My parents are giving me their holiday home in spain, they havent lived there for the last 4 years now. I beleive that I will have to pay a gift tax to transfer it into my name and it could cost about 10,000 euros. The property is worth about 95,000 euros. Does anyone know how much this will cost in gift tax, or is there another cheaper option.

Thanks for your reply, it is in Torrevieja.

Hi Spanish Lawyer, My parents have residency status in spain as they lived there from 2001-2005. Unfortunatley my mum is not well enough to travel now and may end up having to go in a nursing home hence the reason for transfer of the apartment to me now. A year would be to long to wait for me to have a residence so I will have to go with paying the costs. Have you a rough estimate on total costs and whether or not this could all be done from the UK or would we have to go to spain to do it. Also my dad has UK P.O.A for my mum, would that cause a problem.
Kind Regards
Melanie