A buyer of real estate who is married when purchasing an apartment, house, commercial space, plot, and other types of real estate needs to decide whether the property will be their exclusive ownership or whether they will jointly own it with their spouse.

There is a possibility for both spouses to be buyers, and in that case, it is a joint ownership of the property in question.

If the buyer wants the property to be jointly owned with their spouse, it is not necessary for the spouse to sign the Real Estate Purchase Agreement. The competent real estate cadastre authority will, ex officio, register the joint ownership in favor of both spouses.

If the buyer decides, in agreement with their spouse, that the property they are purchasing will be exclusively owned by them, the spouse is obliged to agree to this. The spouse can give their consent in the sale agreement itself by signing it, or both spouses can provide a separate statement that in this specific case it is not joint property, but rather the separate property of one of the spouses.

What does joint ownership entail? Joint ownership is a property right held by two or more persons – co-owners, such that their shares are not determined.

When deciding whether to register joint ownership, buyers should consider tax obligations and benefits. Buyers who are married often decide to be exclusive owners in order to be recognized for the tax exemption from the tax on the transfer of absolute rights as the buyer of the first apartment, thereby leaving the possibility for the other spouse to be the buyer of one of the subsequent apartments and then utilize this tax benefit. Why?

Because by registering joint property on the property in question, the spouse loses the right to exemption from paying the tax on the transfer of absolute rights as the buyer of the first property for 40m².

When spouses are registered as co-owners of 1/2 ideal shares, even if both are considered buyers of the first apartment, the right to tax exemption will not be recognized for each of them for 40 m² (which is recognized for the buyer of the first apartment). The Property Tax Law stipulates that the buyer of the first apartment who purchases an ownership share in the apartment is entitled to tax exemption in proportion to their ownership share in relation to the area up to 40 m². To clarify further, if spouses acquire joint shares of 1/2 each, they will be recognized for tax exemption for 20 m² each.

Heroldo Real Estate is here to facilitate the buying and selling process and provide full support, while it is up to you to choose the desired property from the rich offer of our agency.