Correctly managing an inheritance is one of the most difficult things to do. Beyond the correct writing of the will, which can give rise to family conflicts, it is also necessary take into account deadlines in which it has to be carried out. Unlike inheritance renunciations, which do have an established period, there is no law that decrees a specific time for put the assets in the name of a successor.
David Jimeneza lawyer specialized in economics and inheritances, explains one of the questions his clients ask the most when receiving an inheritance. How long can a property be in the name of a deceased person? Faced with this doubt, the lawyer assures that “It’s not six months as people usually believe“, but this refers only to the period of time in which taxes have to be paid.
Municipal capital gains and inheritance tax must be paid within six months
There are two payments related to the inheritance of a property, as the lawyer explains well. First of all, the municipal capital gains. This tax taxes the increase in the value of urban land when selling, donating or inheriting a property. Usually, it is paid after having signed at the notary and it is recommended to have planned this process previously in the will to prevent successors from shouldering huge expenses.
And secondly, the inheritance and gift taxwhich taxes assets that are received free by inheritance or by gift during life. To calculate the amount of this tax it is necessary to take into account the autonomous community in which the property is located and its value on the date of its owner’s death. Both this tax and the previous one must be settled within a period of six months.
This is why many tend to confuse the period of time to pay the taxes related to an inherited home with the period to put it in the name of one of the successors, for which there is no deadline. “There is no article in the law that tells you what period you have to put the assets in your name“explained the lawyer.
The lawyer remembers that extending this process can cause legal problems
However, like everything in this life, remember that the fact that there is no specific period to do it “This does not mean that it is advisable for this to happen in the future.“, he assures. Well, this can cause complications if a death occurs among the successors before he or she has been registered as the owner of the property. Therefore, It is advisable to do it as soon as possible.
This illegal process is especially advisable if you want to live in the property or sell it, since, if it is not in the name of the successor, this You will not be able to put it up for sale or mortgage it.. Although, to do so, it is necessary to have the necessary documents. These are: the death certificate of the previous owner, the certificate of last wills, the will, the deed of acceptance of the inheritance, proof of having submitted the communication or having paid the municipal capital gain and a copy of the DNI of the deceased and the heir.
Furthermore, although there is no deadline to present these documents, once they are delivered to the Property Registry, the registrar will communicate in a period of 15 days if this registration is accepted or if more documents are needed to be able to complete it completely. Once it has been accepted, the home will become the property of the heir, with the right to sell or use it. A complex process for which it will be It is necessary to have the advice of a lawyer specialized in inheritances.