At Finques Jordi Tané, your real estate agency in Palafrugell, we frequently receive inquiries from owners who have inherited a property and wish to sell it. Selling an inherited property can seem complex, as it involves a series of legal procedures and tax obligations that are important to understand to avoid setbacks.
1. Declaration of heirs: the first key step
Before you can sell an inherited property, it is essential to legally formalize the declaration of heirs. This procedure certifies who the legal beneficiaries of the property are. If there is a will, the process is carried out before a notary. In the absence of a will, a declaration of intestacy must also be processed before a notary, with the presence of witnesses and supporting documentation.
2. Deed of Acceptance of Inheritance
Once the heirs have been determined, the Deed of Acceptance of Inheritance must be executed. This document reflects the heirs’ willingness to accept the property and is also signed at a notary’s office. From this moment on, ownership officially passes to the new owners, allowing for future transactions such as a sale.
3. Tax Settlement: Inheritance and Municipal Capital Gains Tax
The heirs must pay the Inheritance Tax to the Catalan Tax Agency. Its amount depends on the value of the inheritance, the degree of kinship with the deceased, and any applicable tax reductions.
In addition, when selling the property, the Municipal Capital Gains Tax (Tax on the Increase in the Value of Urban Land) must be paid. This tax is levied on the increase in the land’s value from the original acquisition to the sale. This tax is paid by the seller, although there are exceptions.
4. Registration in the Property Registry
With the deed of acceptance and taxes paid, the next step is to register the property in the Property Registry in the names of the heirs. Only then can the sale transaction be formalized before a notary and the change of ownership be made.
5. Sale of the Property: Professional Advice
Once the previous steps are completed, the heirs can sell the property. At Finques Jordi Tané, as a real estate agency in Palafrugell, we accompany our clients throughout this entire process: from the property valuation to the notary signature, ensuring transparent, efficient, and tailored management.
Have you inherited a property and want to sell or rent it? Contact us and let our professional team guide you step by step.
