Life interest or usufructo - Basic principles
by Ibiza-Legal
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Setting up a life interest or usufruct and inscribing it in the Property Registry is a strategy for capital protection that is used quite frequently by real estate owners in Ibiza, in order to reduce the high taxes otherwise levied.

A classic example is where the parents buy a property and put it directly in the children’s name or transfer its ownership to them, establishing a life interest or usufruct for themselves, which allows them to legally use it for life.

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DO YOU KNOW WHICH PRE-NUPTIAL AGREEMENT GOVERNS YOUR MARRIAGE?
by Ibiza-Legal
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When the Notary who draws up the deed to purchase a property in Ibiza asks you which economic regime you chose for your marriage celebrated abroad, mentioning “shared or divided property” with an inquisitive look, you may be tempted to say yes, since you did not establish a separate property regime and so “shared property” seems to be the right idea.

However, in practice the marriage’s economic regime is a complication that tends to be underestimated.

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6 golden rules when buying a property in Ibiza
by Ibiza-Legal
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1. Check that the seller is indeed the owner of the property, either requesting to see the sales deed or asking for what is called a Nota Simple from the Property Registry.

Check also that the details of the buildings recorded at the Property Registry (Registro de la Propiedad) coincide with those that appear at the Records Office (Catastro).

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