What does it consist of?

Handling an inheritance involves distributing assets among different individuals either before or after a person’s passing.

In these cases, after the person's death, the inheritance is distributed by signing an inheritance deed in accordance with the will. If there is no will, what is known as a declaration of heirs will be carried out. In this process, two witnesses must be present to certify the relationship with the deceased, and later, an inheritance deed must also be processed at the notary’s office.

Before the heirs can take possession of the assets, they must visit the notary and accept the inheritance by signing the inheritance acceptance and distribution deed. Only after this step will they be able to use the inherited assets and carry out various operations such as selling or renting them.

Submission Deadlines

Inheritances must be self-assessed within six months after the death of the deceased. If four and a half years have passed since the date of death, the inheritance expires.

To complete the self-assessment, the inheritance deed must be submitted along with the corresponding form. Although the granting of the deed can be postponed, the self-assessment cannot. The form must be accompanied by a list of assets, the will, and the death certificate.

Tax Treatment

The inheritance is subject to the Inheritance and Gift Tax, which is managed by the autonomous communities, meaning the tax treatment varies depending on the region.

Additionally, the Municipal Capital Gains Tax (Tax on the Increase in the Value of Urban Land) must be paid by the person inheriting a real estate property.

Required Documentation

  • Death certificates and the certificate from the General Registry of Last Wills, along with a certified copy of the will.

  • If there is a declaration of heirs abintestate, an authorized copy of the deed or a court ruling declaring the heirs.

  • Heirs' and spouse’s (if applicable) personal information, including National ID (D.N.I.).

  • Property ownership titles of the inherited assets.

  • Property Tax (IBI) receipts from the last year.

  • Bank certificates for securities, accounts, and investment funds included in the inheritance, along with account statements from the previous year.

  • Any outstanding debts and expenses directly related to the death.