In any case, it will be necessary for the owner of the habitual residence not to have other assets or rights in a sufficient amount to satisfy the entire debt and avoid the sale of the home.
Capital gains that become evident in the transfer by taxpayers over 65 years of assets are exempt, provided that the total amount obtained by the transfer is used within a period of six months to constitute an insured life annuity in their favor, under the conditions established by regulation. The maximum total amount that for this purpose may be used to constitute life annuities will be 240,000 euros.
When the reinvested amount is less than the total amount received in the transfer, only the proportional part of the capital gain obtained corresponding to the reinvested amount will be excluded from taxation.
The anticipation, total or partial, of the economic rights derived from the constituted life annuity, will determine the submission of the corresponding capital gain to tax.
The capital gain obtained by the transfer of the habitual home is exempt, provided that the reinvestment of the amount obtained occurs in the acquisition of another habitual home or in the rehabilitation of the one that will have such a character, under the conditions and requirements established by regulation , in the same year in which the capital gain is obtained, in the previous two or in the following two.
The capital gain obtained by the transfer of shares or participations for which the deduction for investment in newly or recently created companies provided for in article 68.1 of this Law had been made is exempt, provided that the total amount obtained by the transfer of the They are reinvested in the acquisition of shares or participations of the aforementioned entities under the conditions that are determined by regulation.
Capital gains that become apparent on the occasion of the transfer of shares or participations acquired by the taxpayer in newly or recently created companies between July 11, 2011 and September 29, 2013 are exempt, provided that they have remained in its assets for a period of more than three years (counted from date to date) from its acquisition, and the requirements and conditions established in the additional provision thirty-fourth of the Personal Income Tax Law are met as of December 31, 2012 .
50% of the capital gain that becomes evident on the occasion of the transfer of urban real estate acquired for consideration from May 12, 2012 to December 31, 2012 is exempt.