Facing the obligations that come with inheritance is not the easiest or most bearable task, but it is appropriate that heirs take into account some questions to face this process with the best guarantees.
**Salvador Salcedo, associate lawyer at Ático Jurídico, ** answers five of the most common questions that beneficiaries of an inheritance may ask themselves. What is the way to act if there is only one heir? What happens to the house or to the various inherited properties? What should I do in case of sale, rental or use of the property?
If I am an only child, do I have to divide the estate with a notary to put the property in my name?
The inheritance auction of a property requires the appearance at a notary of all the heirs, so that the signed inheritance division act has access to the property register, and so that the apartment can be registered in the name of the new owners. “If there is no agreement between the heirs, the alternative will be to go to the judicial division of the inheritance.”, says Salvador Salcedo, associate lawyer at Ático Jurídico.
If the beneficiary of the inheritance is an only child, the act of division must be signed by himself at a notary in Spain. “However, you can also prepare an application in a private document and attach the will, death certificate, and latest wills. Consequently in said case, if the signature of the heir is notarized, and provided that he has paid the taxes beforehand.”
If there are several heirs, who has the right to use the inherited property?
It is very common for one or two assets to make up the inheritance to be distributed between several heirs, and that they can be distributed equally, all being co-owners. The usual thing is that the properties are combined for sale in order to distribute the proceeds of the transaction between their heirs. But it may also happen that selling or renting is not possible or that this option is ruled out in order to enjoy the inheritance assets. The question may arise as to who has the right to use the inherited floor if all or several beneficiaries are interested in using it.
“If all the heirs are reasonable and in a good mood, an agreement can be reached. However, if consensus is not possible, it will be necessary to go to court. The Supreme Court having established that, in these cases, it will be appropriate to use the property in teams. For everyone to share it, but they are given a period of exclusive use that they alternate,” explains Salvador Salcedo.
To sell or rent the property we have inherited, do we all have to agree?
The ownership of an apartment may correspond to one of the heirs, although the most common is that they share it equally among all of them. Selling the property will be the easiest option to be able to materialize the receipt by distributing the price between the beneficiaries. “However, for the sale to take place, everyone must agree. Otherwise it cannot be done. Thus, it will be possible to propose the division of the common property as an alternative to one of the co-owners.”
Renting the inherited apartment that is jointly owned by several heirs will also require everyone's agreement. If such consensus does not exist, the majority of co-owners can validly sign the rental contract, provided that the rental does not exceed a period of six years. The jurisprudential criterion is unanimous, considering a lease that exceeds this duration as an act of disposition.
If I sell the property I inherited, what problems can I have?
More and more people are dying without descendants and it is very common for their assets to be inherited by their brothers, nephews, other relatives or friends. The subsequent sale by the heirs of said assets generally poses problems because it is subject to certain temporary limitations that may hinder the functioning of the buyer by not having the sale insured until two years after the death of the relative or friend whom the seller inherited died.
The reason why the faith of the public register is suspended for the buyer in such cases is a guarantee. To rule out that the deceased, whom the seller inherited, did not have other parents with better rights. In this way, a reasonable period of two years is granted in case other people with a relationship closer to the deceased appear and may question the seller's hereditary rights. As a consequence of this legal limitation, the refusal of many banks to grant mortgages to the buyer.
The property that was left to me on the will was sold before the death of the deceased, can I claim it?
It is not strange for a person to decide to sell some of their assets before they die, or for their guardian to make such a decision, to deal with the care that person may require.
“The truth is that everything will depend on whether the sale may or may not be considered a change in the will of the testator. Thus, if the decision to sell is due to an act of the testator, the inheritance will have no effect. On the contrary, if the sale was decided by the guardian, the inheritance will not be without effect. The legatee can claim the balance of the sale price, once applied to meet the needs of the testator.”, declares the lawyer Salvador Salcedo.
Do you have questions about a property in Spain that you want to sell? Do not hesitate to contact us!