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All you need to know if you inherit a home and need to sell it.

empresario firma contrato detras de modelo arquitectonico de casa 2379 1670 3 - All you need to know if you inherit a home and need to sell it.

Spanish people received almost 430,000 inheritances in 2018, of which almost 47,000 were rejected, that is, 10.9% of the total, according to a report by the General Council of Economists. What should the heirs have in mind when inheriting a property? What is the inheritance tax? And the municipal surplus value?

In case your intention is to sell the house that you just inherited, in this post, we give you some key tips for this moment.

Steps to sell an inherited home

Keep in mind that when a person dies their property is not automatically transferred to the heirs, but they must accept the inheritance before a notary to become formally heirs. Thus, the first required documentation will be the certificate of death or last wills, which will allow knowing if the deceased left a will and in what notary is deposited.

Remember that the heirs must pay taxes twice. The first, with the liquidation of the Inheritance Tax in the following six months after the death of the person who benefits his inheritance. Note that the amount of the tax varies depending on the Autonomous Community. The receipt of proof of payment is essential to proceed with the registration of acceptance of the inheritance. The next time the heir must pass through the cashier will be the payment of the municipal capital gain, for which the value of the new property is paid.

The next step would be that the future heir must present before a notary the deed of the house in order to be able to sign the award of the inheritance. This procedure is essential to modify the ownership of the home.

The next step would be to go to the Land Registry in order to register the inheritance. This procedure will be necessary if the heir wants to sell the house since it must be registered as the owner of said house.

And now, once the house has the new ownership, the heir can already be prepared to sell the apartment.

Sell ​​fast, time is money

After paying the different taxes, such as inheritance and municipal capital gains, time is required to sell the inherited house, since if it is not sold within a year after the heir was registered, the municipal surplus value must be paid again.

Once the administrative procedures have been carried out, many heirs who are sure to sell the house to obtain liquidity rely on our model to do so at a market price in an adjusted time of fewer than 90 days.

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