sale of real estate when the seller is the owner by succession title

Situations in which the heirs have no choice but to sell the acquired property due to excessive charges or taxes that are impossible to bear or due to the problems of having a jointly owned property are becoming more and more frequent.

This entails the urgency in its sale and more competitive prices than the market average, something that accentuates the interest and the rush of any buyer.
However, you must be proactive and know certain limitations to avoid unknown situations later.

It is advisable to consult and study the matter, and request advice from professionals in the real estate sector before taking any step that may lead to a possible lawsuit.

It is important to request a Simple Note from the Land Registry. This allows knowing the situation of charges and encumbrances against any public body, and the current ownership of the asset.
With this, we can be sure that the property appears in the Property Registry in the private capacity of the awarded heirs after granting the corresponding deed of partition and inheritance adjudication.

Many heirs put the inherited property up for sale without having accepted the inheritance and without having fulfilled their inheritance obligations, such as paying the inheritance tax and registering the inheritance adjudication in the Property Registry.

This may mean that the bank will deny the buyer the loan until the property is registered in the name of the selling heirs.

It is important to know the degree of kinship of the current seller with respect to the testator. If the property has been inherited by third parties or non-compulsory or direct heirs (descendants, ascendants or spouses), it is possible that an heir with better rights than the seller appears, which can block or slow down the purchase operation and cause significant damage assets for the buyer. In these circumstances, Spanish legislation protects the heir in precepts such as 1067 of the Civil Code, the will could be challenged.

The payment of taxes. In addition to accepting the inheritance and paying the corresponding taxes, the heirs may be forced to cover the Inheritance Tax and the Municipal Capital Gain.
The omission of these tax duties by the sellers, may lead to the home being affected by an embargo by the Administration, and the buyer will assume said responsibility.

In the event that there is more than one heir and not all agree to sell, it is necessary to have the express consent of all. Each heir has a percentage or fraction, and it may be the case that one opposes the transfer of the property, which paralyzes the process until the differences are resolved.

A judicial action for the division of common property or actio communi divindundo can be initiated in accordance with the provisions of article 400 of the Civil Code, which implies that the buyer must be especially careful, since he could be involved in a family conflict.

It is possible that there is no agreement between the parties regarding the sale price of the property. The buyer could acquire one or more of the percentage shares, assuming the position of co-owner.

In order to know the number of holders, the Simple Note will contain the name of all the heirs, as well as any possible debts that any of them may have.
If an heir has a debt, it is possible that the creditor body seizes the property to cover the corresponding debt.

The sale of real estate by a person who owns it by succession title requires special attention, so the matter should be carefully consulted and studied, as well as seeking advice from real estate professionals before taking any measure that could lead to possible legal litigation. .