Most cost effective way of buying out brother

Hi All

I was really appreciate anyone's advice. I want to buy my brother out of his half share of a house we own in Spain that we inherited two years ago. The Solicitors come back with half a dozen different taxes  that I would need to pay if it was gifted. But if I buy his shares, it's called (La extinción de condominio.)

Has anyone got any advice the cheapest way to do this as its ruddy expensive. And its costing enough to buy him out. As he had nothing to do with our parent when he was alive. So its with a heavy heart I have decided to buy him out. As it needs quite a bit done to it, as it is a renovation project which i will work. Save and get bits done as I go. Thanks in advance.

@Lvp69You will need a Lawyer. Or leave it abandoned. That's  what a lot of Spanish do when in the same predicament. They figure it's cheaper and safer, because  you may find out your brother has borrowed  money on the equity. Worse still, it may not have permission  to build it, The sewage  is just a septic tank that needs a licence, or the water comes from a Well that is on a Farmers land and the President  will not allow access to the pump that may breakdown every 5 minutes.  If its in a Community  with a President, Secretary,  and financial Administrator  , and the water comes from a Well on Farmland NOT owned by the Community, don't touch it with a bargepole.

Its a good solid townhouse in a nice village that our father was halfway through renovating. I want to keep it as it will be a lovely house when its done. Has running water etc.

@Lvp69 In  my last reply  I advised hiring a Lawyer this is vital, but just as vital is hiring a Surveyor who will find out all the nasty problems that you will also take on when purchasing  the property.  There are so many hidden problems when buying a panish  rural property that explains why Spain has the largest number of unsold rural houses in Europe.

@Lvp69 Does it have Town water or well water? Was it built legally. Is it a legal build  and all the new extensions registered  with the Land Registry? Is the sewage, Septic  tanks or Town sewerage? Does it have an Architect Certificate? . Does it have a shared entrance? Have you got permission  from the Town Hall to modify the building? What is the electricity supply? Are their any neighbour  disputes. Does the Property have any unpaid bills, debts,  Community  fees and tax fines?  These are all the things a Surveyor  and Honest Lawyer will uncover. Under no circumstances  do NOT use a Lawyer recommended  by the Seller.

We own it all ready, it was an inheritance between myself and my brother. we are up to date with all the bills, its overseen by our Spanish solicitor whom has

overseen the property since they dealt with our late fathers probate.  so there is no nasty surprises as ive been the one dealing with it all. It had the electricity on previously, but had it disconnected as it was not being used. It has water from the main water company. And same for the electricity company.  The property is 80 years old  terraced town house. the only concern is next door has been empty for decades, and a fig

tree is growing in their back yard that the branches are encroaching into our house. I am buying my brother out as hes not intrested in it, and it has great potential.  So all along its been managed by our solicitor of anything to do with bills and annual taxes.

@Lvp69 It seems Kosher, but I would suggest you hire a Surveyor  to look at the fig tree. Might be worth asking why the house next door has remained empty for so long? Check If the area is modernised and the Town Hall is not riddled  with red tape? Check out the local Builders Merchants  and ask them if  the local builders pay their bills.Check if installation  of modern electricity  cables are overhead or underground. What is the Kwatts 3 (lousy)  or more? How much will they charge you to increase your power..normally it is horrendous. Pets allowed?


thanks Roger.

One last thing, make sure you have a space to park your car. !!!

It has a courtyard garage.

Seems Kosher. As long as your neighbours  don't "borrow" it when your away. Pay a visit to your Local Land Registry to check all is upto date and the change of ownership is in your name. Also make sure you have checked if the Town Hall and the Land Registry  have aerial photos of your property . You can bet your bottom dollar they have and new extensions already added.if you see helicopters flying over for a period of 3days, they are photographing your house and all the others.