The inherited property - What is important now?
The sale of an inherited property requires special skills on the part of the real estate agent. A death often brings with it further consequences in addition to the personal loss. Depending on whether there is a will or the legal succession applies, a property passes to the heir or heirs. In any case, a certificate of inheritance is necessary for the use or sale of the property. The RIEDEL Immobilien team will provide you with competent and expert support in all matters relating to inherited property.
1. basic questions if you have inherited a property
As soon as it is clear that you are the future owner of the inherited property, the question arises as to how to proceed. Do you want to move into the property yourself, rent it out or sell it?
Home ownership is considered one of the most important investments, but it does not always make sense to keep the inherited house or condominium. Perhaps you already live in your own home, in which case moving is out of the question. The maintenance of the property costs, you also do not want to deal with renting? Then a sale is the best solution.
The decisive factor for the sale is whether you are the sole heir or whether a community of heirs has inherited the property. If you want to sell, professional support is important in any case. This will save you time and work, and a good estate agent can also determine the value and achieve the best possible price for you.
2. when can the property be sold at the earliest?
The prerequisite for the sale of the inherited property is a valid will, a contract of inheritance, a comprehensive health care proxy or a certificate of inheritance. The certificate of inheritance must be applied for at the competent local court or probate court. The entry in the land register must then be corrected so that you or the community of heirs are the new owner of the inherited property. The costs for the certificate of inheritance and the entry in the land register depend on the value of the property and are set by law in special fee schedules.
3. the value of the inherited property
Several factors play a role in determining the value. First of all, the usual criteria are decisive: year of construction, size, location, condition and equipment are important for the valuation. But other circumstances can also be decisive. In any case, it is important whether the property is debt-free. In addition, for example, a right of residence or a right of first refusal for certain persons may have been stipulated by the testator. In the case of rented property, the tenant may not be given notice because of the sale. Do not estimate the value of your inherited property yourself, but leave the valuation to a professional! RIEDEL Immobilien is at your side with expert advice.
4. the compulsory portion - what is it and what does it mean in the inherited property?
Under certain circumstances, heirs may only be entitled to a compulsory portion. This means that these persons are excluded from the statutory succession in the will, but are entitled to a compulsory portion due to the family constellation. This rule only applies to children, grandchildren, parents and spouses or partners in a registered partnership. The amount of the compulsory portion is half of the statutory share of the inheritance. Payment is only possible in monetary form, i.e. as a beneficiary of the compulsory portion you are not entitled to a specific part of the property, but only to the financial equivalent.
5 The community of heirs - unity or pre-programmed disputes?
As the sole heir, you can act according to your own ideas and sell the property at any time as soon as the legal requirements are met. Several heirs, on the other hand, form a community of heirs, which may only act jointly. The members of a community of heirs are referred to as co-heirs - in contrast to the sole heir if there are no other heirs.
There must always be agreement on the sale of the inherited property. A single co-heir may not initiate the sale of the property. Similarly, it is not possible for a co-heir to claim his share if the community of heirs does not agree. If the deceased person has arranged the details in a will or with a contract of inheritance, the community of heirs will be spared unpleasant disputes. However, if the community of heirs cannot reach an agreement, the only option is the compulsory auction of the inherited property.
