Contract options

Regulations: Art. 23 Wealth Tax Law

This section will include contractual options whose ownership corresponds to the declarant, derived from contracts that authorize a person to, at his discretion and within a maximum agreed time, decide on the perfection of a main contract (generally a sale contract) with another person who, for the time being, is bound to bear the results of said free decision of the holder of the option right.

Contractual options are valued at the agreed special price and, in the absence of this, or if it is lower, at 5% of the base on which the contracts on which said options apply would be settled for the purposes of the Tax on Property Transfers and Documented Legal Acts.