It is the star operation after a divorce or inheritance between two: one keeps the house and compensates the other for his share. Is called condominium extinction y, well done, It is much cheaper than a sale between individuals. Here's how it works, what it costs and the pitfalls to avoid.
What exactly is it
When a home belongs to several people (divorce, siblings, partners), Anyone can ask to leave the co-ownership. If the house is indivisible—like almost all of them—, The legal solution is to award it to one of the co-owners, that compensates others in money for their percentage. That is the extinction of condominium: it's not a sale, is the dissolution of a co-ownership, and that legal difference is what makes the operation cheaper.
The tax advantage: AJD instead of ITP
Una compraventa de la mitad de la casa pagaría ITP (he 10% en la Comunitat Valenciana sobre esa mitad). La extinción de condominio tributa en cambio por Documented Legal Acts, around the 1,5% —y calculado según el caso sobre la parte adjudicada—. En una vivienda de 200.000 €, hablamos de miles de euros de diferencia. Requisitos para que Hacienda la respete: la compensación debe ser en dinero y proporcional, y la casa realmente indivisible.
El paso que nadie puede saltarse: the mortgage
La escritura de extinción no modifica el préstamo: si los dos firmasteis la hipoteca, los dos seguís debiendo aunque la casa ya sea de uno. Hace falta que el banco acepte la liberación del codeudor (novación) o una nueva hipoteca a nombre del que se queda. El banco estudiará su solvencia en solitario: conviene tener esta conversación con la entidad before de firmar nada ante notario.
¿Por cuánto se hace? El valor lo es todo
La compensación se calcula sobre el valor de la vivienda, y ahí se juega el dinero de verdad: cada 10.000 € de diferencia en la valoración son 5.000 € que una parte gana y la otra pierde. Los portales no sirven (muestran precios de anuncio, no de venta) y el valor de referencia catastral marca solo un mínimo fiscal. Lo justo para ambas partes es una professional valuation with real sales in the area, idéntica para los dos.
¿Y si ninguno puede quedársela?
Entonces la extinción de condominio no es tu figura: la salida es vender la casa entera y repartir. Suele ser también la respuesta cuando el que quiere quedársela no obtiene la financiación en solitario. En ese escenario, the sooner it is assumed, best price you get: Sales agreed calmly yield more than those forced by the court.
Practical summary
1) Objective assessment. 2) Conversation with the bank about the release of the co-debtor. 3) Numbers of the two options (keep it vs sell). 4) Notary. At Mayrasa we solve the problem for you. 1 free and, If the answer ends up being to sell, we manage the complete sale; For the rest of the steps we guide you from our real estate consultancy. Ask us without obligation.
How much does it cost in practice?
A concrete example: a house of 200.000 € that belongs to two people 50%, and one is left compensating the other with 100.000 €. These are the indicative costs in the Valencian Community:
| Concept | Approximate cost |
|---|---|
| AJD (around the 1,5% on the awarded part) | 1.500 € approx. |
| Notary | 600 – 1.000 € |
| Property Registration | 300 – 600 € |
| Management (optional) | 300 – 500 € |
| Appraisal | 300 – 600 € |
| Novation or new mortgage | Variable, according to the bank |
To compare: if that same half were bought as a normal sale, the ITP would be around 10.000 €. The difference—several thousand euros—is exactly what is saved by carrying out the operation as condominium termination..
Condominium extinction step by step
- Agree on the value of the house with a impartial appraisal, idéntica para los dos.
- Talk to the bank: release of the co-debtor or new mortgage in the name of the person remaining.
- Sign the deed of extinction before a notary, with monetary compensation.
- Liquidate the AJD (model 600) within deadline.
- Register the new ownership in the Property Registry.
Frequent errors in condominium termination
- Write it as a sale and pay the ITP of the 10% instead of the AJD of 1,5%.
- Offset with other assets instead of money, what can make you lose the advantageous tax treatment.
- Award for a non-proportional value and generate an excess allocation that is taxed as a normal transmission.
- Sign without resolving the mortgage and continue to respond as co-signer of a house that is no longer yours.
- Set word value and discover later that one party has lost thousands of euros.
Frequently asked questions
How much do you save compared to a sale??
The difference is in the tax: a sale of half pays ITP (he 10% in the Valencian Community), while the termination of the condominium pays AJD (around the 1,5%). In an average home, That's several thousand euros in savings..
On what value is the AJD paid??
Generally on the value of the part that is awarded, with the reference value as the fiscal minimum. That is why a well-done appraisal not only distributes fairly between the parties, It also supports the value declared before the Treasury.
Can the bank refuse to release me as a co-signer?
Yeah. The bank only releases one if the one who stays demonstrates that he can pay the fee alone. If you don't accept it, The alternatives are to look for another bank that will subrogate the mortgage or, if there is no financing, sell the house and distribute.
Does the termination of the condominium work if there are three or more of us??
Yeah. One wins the house and compensates everyone else in money in proportion to their share.. If no one can or wants to keep the property, the exit is again sell the entire house and distribute the amount.
In inheritance and divorce: same rules, different shades
La figura es la misma tanto si la copropiedad viene de una herencia entre hermanos como de un divorcio, y en ambos casos el ahorro fiscal (AJD instead of ITP) funciona igual. Los matices están en el punto de partida. En una herencia, la casa suele llegar sin hipoteca pero con más copropietarios, así que el reto es que todos acepten el mismo valor y que quien se la queda pueda compensar a los demás. En un divorcio, lo habitual es que haya solo dos partes pero con una hipoteca conjunta viva, y ahí el cuello de botella casi siempre es el banco. En los dos escenarios, el orden correcto es idéntico: primero el valor objetivo, luego la financiación y, por último, la notaría. Resolver esos dos pasos antes de firmar es lo que convierte una operación tensa en un trámite tranquilo.
