Is There A Way Of Not Paying Inheritence Taxes Until The Property Has Been Sold...We Have To Pay Nearly 5000euros And We Simply Don't Have This Kind Of Money, We Are Under Spanish Law. Please Help!!
Answer:
I know jack about Spanish law, but I would have thought that you could find a sandbank willing to lend you the money, mortgaged against the property. In fact, I'd be surprised if you couldn't find some sort of lender willing to do that .
Actually, 5000 Euros isn't that much money, which may (ironically) be the biggest problem. A lender might consider it too small a sum to be worth their paperwork. In which defence you could draw up a legal agreement with anybody you know who has the money, win them to loan it to you with the property as security. AND offer to foot them back a good rate of interest.
Alternatively, if you doubled or trebled the loan -- use the extra to redecorate/repair the property or even just as an credit on your inheritance -- the banks might be more interested in giving you a loan.
I know of American agencies which basically finance people their inheritance; they would loan someone in the USA the sort of money you're after, BUT their interest rates are extortionate. Best to avoid if at all possible.
Good luck.
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