Leaving a home to your children, donating it or even selling it: What is the best option? What is most convenient for tax purposes? These are doubts and questions that, inevitably, many people with some type of property tend to ask themselves at some point in their lives. And the answer is not simple.
Although in general terms experts opt for inheritance, it all depends on personal circumstances and the place where taxes are paid, since taxes can vary greatly depending on the autonomous community. But is there any way to save paying taxes? What should we take into account?
He recently spoke on this topic. @martafintips, a content creator specialized in finances who has thousands of followers on Instagram. In one of the latest videos on her account, the young woman addresses this question and proposes a solution that, according to her, would avoid a large part of the taxes associated with a traditional inheritance.
The key, he assures, is to transfer bare ownership of the home to the children while the parents reserve the usufruct. In this way, the descendants become legal owners of the home, but the parents retain the right to use or rent it until their death.
Advantages and disadvantages of your method
But does that really work? Depends. What Marta proposes directly eliminates the Inheritance Tax, which in many autonomous communities can be a considerable burden. Furthermore, if the parents are over 65 years of age and the home is their habitual residence, the transfer of bare ownership could even be exempt from personal income tax, thus avoiding a potential capital gain at the time of the operation.
However, not everything is as simple as it seems. Despite the advantages, this strategy is not without costs. The donation of the bare property generates certain taxes, such as Donations or municipal capital gains, which will depend on the value of the home and local regulations.
This last tax is applied to the increase in value of the urban land from the moment the deceased acquired it until its transmission to the heirs. Although in some municipalities there are discounts that reduce this burden, the amount varies depending on the location and the calculation method chosen.
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