Inheritance of real estate in Spain
Sooner or later, almost every one of us will have to face the issue of inheritance, including those who have real estate in Spain. Inheritance is a matter in which it is important to have the correct information in order to choose the most preferable and advantageous option for disposing of property. For homeowners in Spain, our specialists have prepared material on the features of real estate inheritance.
Discovery of inheritance
On the territory of Spain, there are various inheritance mechanisms for residents and non-residents of the country. Tax rates may vary depending on the autonomy for residents of the country. For non-residents, the general tax rate applies.
When it comes to legacy, the first thing to do is determine where it should be opened. It depends on this what norms will be applied in solving this issue.
Inheritance can be opened by:
Russian consulate;
Notary;
Civil court at the place of residence of the testator.
In accordance with the Civil Code of the Russian Federation, the place of opening of the inheritance is determined as the last place of residence of the testator. If the place of opening of the inheritance is Spain, then if there are heirs of the first line, that is, a spouse, children or parents, they enter into inheritance rights in the presence of a notary according to the rules of Spanish law. Sometimes the inheritance procedure requires going to a civil court. This usually happens in the absence of direct heirs or in case of disagreement. Then the opening of the inheritance is carried out according to Spanish procedural law.
In the absence of a will under the Spanish Civil Code, inheritance is carried out according to the rights of the state of which the testator was a citizen. But in practice, it is not uncommon to be sent to the statutes of the state where the testator lived.
If there is a will, then the issue is solved much easier. According to the law of the Russian Federation, a will must be drawn up in accordance with the requirements of the country in which the testator lived at the time of drawing up the document. In the will, it is imperative to take into account the mandatory share of legal heirs, which is defined in local legislation. If this clause is violated, the will may be revoked.
Procedure and terms for payment of inheritance and gift tax
Receiving property involves the payment of mandatory fees. To date, the following tax principles apply to non-residents of Spain:
If the recipient is a resident of an EU country, but not Spain, he is subject to tax benefits of the autonomy where the property is located. If the object is not located in Spain, then the rules of the autonomy where the heirs reside.
When the property is transferred to a person residing in the territory of the Spanish autonomy, tax rules will be applied to him, which are relevant for the autonomy where he lives.
For example, for an apartment in Barcelona, taxes for heirs will be charged according to the rules that are relevant for Catalonia, and not according to national standards.
Tax payment times may also vary:
Upon entering into an inheritance, taxes must be paid within 6 months after the death of the testator;
In other cases, taxes are paid within a month after the conclusion of the contract or act.
When entering into an inheritance, you must remember the following:
When receiving a family business, the calculation of benefits and deductions is carried out according to a special scheme. Tax breaks are applied to each heir in relation to their parts in the family business.
When inheriting a company, you cannot apply the autonomy benefits and the 95% tax benefit at the same time;
Actual civil marriages are equivalent to those registered if there is an entry in the Registro de Uniones de Hecho Formalizadas.
It is recommended that you seek the help of a notary or professional lawyers in order to draw up a will or inheritance. Such cases are of great importance in our life, so every property owner needs to have an idea of inheritance, donation and related payments.
