Change of name of an inherited apartment: procedures and price
Inheritances are always a complex matter. And it is that, with that, They usually come with legal entanglements that can generate a lot of confusion.. And if the necessary steps are not carried out, We may face more than one headache in the future..
He change of name of an inherited apartment It is one of the most important procedures that must be carried out when a person dies. A process that must be carried out whenever the succession of a home is accepted and processed.. And necessary to be able to sell or rent the property. For this reason, The ideal is to change the deeds as soon as possible to enjoy the property in full right and avoid possible tax problems..
How to change the ownership of an inherited apartment?
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If the heirs are willing to keep the apartment, They will have to request the death certificate in the Civil Registry where the death occurred. We have to wait 15 days from death to request it.
With that, We can go to the Ministry of Justice to obtain the Certificate of Last Will Acts, which reflects whether the deceased made a will before a notary or not. If there is a will, we will have to go to the notary to sign the will. inheritance acceptance document.
If there is no will, it is necessary to prove the right to inherit through birth certificate, the family book or any other document. So, The notary will provide us with the deed of allotment and the division of the inheritance, where the assets are distributed among the heirs based on what is established in the inheritance law.
The next step, es pay the corresponding taxes (are applied to the benefits of the inheritance after subtracting possible debts). The Inheritance and Donation Tax must be paid within six months after the death. In addition to the municipal capital gain, which taxes the increase in value of the apartment from when it was purchased until it has been inherited.
Once you have completed these procedures and have all the necessary documentation in your possession, You will have to make an appointment to go to the Property registration with the deed of acceptance of inheritance and proof of having paid the taxes. Thus, we can make the change of ownership of the home. Even if there are several homes, We will have a single deed as the title of ownership of all the inherited apartments.
Keep in mind that the entire process may take several months., so we must be patient and organize well. Although there is also the option of putting yourself in the hands of expert professionals such as those from Inheritance Specialists, who will offer you specialized advice so that the entire procedure is more agile and simpler, and they will do all the paperwork for you.
Due to the expenses involved in changing the name of an inherited apartment, many people decide to sell the property.
How much does it cost to change the name of an inherited apartment??
The price of changing the name of an inheritance apartment will vary depending on the value of the home. Besides, It must be taken into account that costs may be different from one autonomous community to another. The expenses involved in this procedure are the following::
- Notarial charges: although it is not mandatory to make a public deed of the housing transfer operations, yes it is advisable. The notary charges the amount set by the Government by Royal Decree, the last review dates from the year 1989 (RD 1426/1989). The rate may vary depending on the value of the property in the document, the length of the document and the complementary acts carried out.
- Record: Registration fees are also set by law, in the Royal Decree 1427/1989, Approval of fees for Property Registrars. The amount to be paid is calculated based on the value declared in the deed. The higher the amount, the lower percentage is applied.
- Inheritance and Property Transfer Tax: Some autonomous communities establish a cost for this type of procedures through the Inheritance and Donation Tax. Although some believe that it is a percentage of the inheritance, The truth is that it is a more complex calculation rule. But also, the Tax on Property Transfers and Documented Legal Acts will have to be paid.
- Capital gain: Another tax that must be paid to change the name of an inherited apartment is the Tax on the Increase in Value of Urban Land.. It applies to any type of home transfer, whether by inheritance, donation or sale, and corresponds to the town councils. With which, if you inherit several properties that are located in different municipalities, You must request the payment letter from each of these town councils.
If you want to know the amount of costs with the exact calculation of each of the heirs, The best thing is that you make an appointment with a inheritance lawyer here.
Due to the expenses involved in changing the name of an inherited apartment, many people decide to sell the property. Then, you must know, that if more than a year passes since the change of ownership, when the apartment is sold, the municipal capital gains tax will have to be paid again. With which, if you want to sell an inheritance apartment, It is advisable to do it as soon as possible to avoid having to pay this tax for two.
For more questions you can contact an inheritance specialist by clicking on the button.
