Documents required for the sale of inherited homes

Do you know how many inherited properties have been registered during the first quarter of 2023 in our country? 107,073! Some data compiled by the National Statistics Institute, INE, which marks a milestone since the agency began keeping records in 2007.

These shocking figures have motivated us to create the definitive guide on the necessary documentation to sell an inherited property. Below, you will find everything you need to have at hand.

What are the essential documents for selling an inherited property?

The death certificate

Before proceeding with the sale, it is necessary to accept the inheritance, for which the death certificate confirming the death of the legatee is required.

This report can be acquired within two to fifteen working days at the Civil Registry Office at no cost.

The certificate of last will and testaments

It is mandatory to obtain the last will certificate of the deceased. This document confirms whether the person has left a will and before which notary he/she has granted it.

It has to be requested within fifteen days after the death, with a waiting time of ten working days and has a small cost to be paid at the Ministry of Justice.

A copy of the will

To ensure that the assets and rights of the deceased are distributed as specified in the will and in accordance with the legal provisions, it is necessary to go to the notary mentioned in the last will certificate.

This process can take between one and two weeks. Generally it does not exceed forty euros in expenses.

The signature of the inheritance

To formalize the acceptance of the inheritance, it is also necessary to go to the notary.

If you are the sole heir, it is sufficient to draw up the agreement. If there are several successors, the signature of the public deed is required.

The term for the acceptance of the inheritance can be extended up to thirty years, although the term for the tax aspects is up to six months. The associated expenses vary from thirty to three thousand Euros, according to each situation.

Payment of Inheritance and Gift Tax and Municipal Capital Gain Tax

Within six months after the death of the legatee, the following must be paid:

1. The Inheritance and Gift Tax, which varies according to the region.
2. The Municipal Capital Gains Tax, which is established by the Town Hall corresponding to the inherited property.

The registration of the property in the Land Registry

Finally, although it is not a mandatory requirement, we recommend you to register the property in the name of the heirs to expedite future transactions.

This process requires the presentation of the documents mentioned above. The Land Registry has a period of fifteen days to conclude the process. The associated costs range from two hundred to five hundred euros.

Sell your inherited property with KM2 Real Estate Services

In KM2 Real Estate Services we are specialists in the commercialization of properties in the best areas of Barcelona and Madrid. With a track record of over 41 years, we have helped numerous heirs to sell in the shortest possible time and obtain the most favorable conditions.

Would you like to get an idea of the selling price of your property? We invite you to discover its current value completely free of charge and in less than two minutes with our online home valuator.

We are ready to fulfill your next real estate purpose. Our team of commercial advisors will not stop until your property is sold. We are waiting for you at:

• Rambla Cataluña 60, 5º 2º, Barcelona.
• C. Serrano 51, 4º Pl. Derecha, Madrid.