These charges will be levied by the Developer, if Title Deeds have not been issued, to cover the costs of cancelling the present owners contract lodged with the Land Registry and re-registering in the new owners` name.
The amount should have been covered in a clause in the original contract, at least noting a maximum figure.
The difference between the original contract purchase price and the selling price deems the total capital gain, but allowances can be deducted from this figure, including transfer fees paid, annual inflation and the cost of additions to the property.
The first 17,000Euros per person is exempt from this levy (34,000€ per couple) and if the owner has resided in the property continuously for the last five years an exemption in total of 85,430 Euros will apply.