Selling an Inherited House

Inheriting a house often comes with a mix of emotions and challenges. Aside from the emotional burden, the process of selling an inherited house can seem complex and overwhelming if you are not familiar with the legal and administrative steps to follow. This post is designed to help you better understand this process and answer some of the most common questions you might have.

How to Sell an Inherited House?

To know how to sell an inherited house, it is important to follow several steps:

1. Acceptance of the inheritance: The first step is to formally accept the inheritance before a notary. This involves signing a deed of acceptance of inheritance.
   • Required documents: You will need the death certificate, the certificate of last will, the will (if it exists), the deeds of the property, and the identity documents of the heirs.
2. Tax payment: After accepting the inheritance, several taxes must be paid, such as inheritance and gift tax and municipal capital gains tax.
   • Inheritance and gift tax: This tax is paid to the autonomous community where the deceased resided, and its amount depends on the autonomous community and the relationship of kinship with the deceased.
   • Municipal capital gains tax: This is a municipal tax on the increase in the value of urban land and is paid to the city council where the property is located.
3. Inscription in the Land Registry: Once the taxes have been paid, it is necessary to register the property in your name in the Land Registry. This is essential to be able to sell the house later.
   • Required documents: You will need the deed of acceptance of inheritance and proof of payment of taxes.
4. Property valuation: Before putting the house up for sale, it is a good idea to obtain a professional valuation to establish an appropriate market price.
   • Required documents: A valuation report prepared by a professional appraiser.
5. Processing the sale: Finally, you can proceed with the sale of the house. This involves signing a purchase agreement and a public deed before a notary.
   • Required documents: You will need the purchase agreement, the public deed of sale, the energy efficiency certificate, and an ITE (Technical Building Inspection) if necessary.

How Long should You Wait to Sell an Inherited Apartment?

If you are wondering how long you have to wait to sell an inherited apartment, you should know that it can take time, depending on several factors. In general, you should wait until all the legal and administrative procedures are in order. This can take several months, as it is necessary to complete the acceptance of the inheritance, pay the taxes, and register the property in your name. Once these steps have been taken, there is no legal minimum period to sell the house. It is advisable to have all the documentation in order and be prepared for any eventuality that may arise in the sales process.

Can You Sell an Inherited House without Registering it?

No, you cannot legally sell an inherited house without first registering it in your name. Registration in the Land Registry is a crucial step for the sale to be valid and safe for the buyer. This process includes submitting the deed of acceptance of inheritance and proof of payment of the corresponding taxes. Registering the property guarantees that it is legally in your name, which is essential to formalize the sale correctly and protect the buyer’s rights.

Can I Sell My Share of an Inherited House?

When you inherit a property with other heirs, you have the option of selling your share. Therefore, to the question: “Can I sell my share of an inherited house?” The answer is yes. You can offer it to another co-heir, which may be easier, since other heirs may be interested in keeping the property within the family. If you decide to sell your share to a third party, you must bear in mind that the other co-heirs have the right of first refusal and withdrawal, that is, they have preference when buying your share under the same conditions offered to a third party.

Advice for your Inherited House with Espígul

If you are looking for advice on selling your inherited house, at Espígul we are here to make things easier for you. We accompany you in all the steps, from legal procedures to administrative aspects, with the aim of facilitating a successful process. Trust us for a hassle-free experience.

And if you are about to sell an inherited property, we recommend consulting our previous post on what taxes are paid when selling a house.