Many property purchasers in the Valencia Region may be able to claim against an illegal tax demand made by the Valencia Tax Agency
if the deceased was not resident in Spain , heirs not resident in Spain can apply the rules of the Autonomous Community in which the majority value of their assets are located. If the heirs are resident in Spain , the rules of the Autonomous Community where they reside shall apply.
According to Article 1344 of the Spanish Civil Code when the executor fails to meet the obligations set out above, the executor will be responsible for any damages suffered by creditors. However executor obligations also relate to the beneficiaries who may also take legal measures against the executor if they fail to fulfil their obligations.
With us all living longer, the prevalence of dementia is increasing and needs to be considered when planning for the distribution of our assets in the future. In an ideal world we would have this dealt with long before dementia becomes an issue, but not everyone is so lucky.
What effect will the new European Regulations on Wills have on residents and non-residents with assets in Spain?