How much does it cost to notarize an inherited house?

People who receive an inheritance or are about to receive one often wonder “how much does it cost to register an inherited house“. In the following guide, we will resolve your doubts so that you can get a rough idea.

How much does it cost to register an inherited house

First of all, it is important to keep in mind that the number of sales of inherited homes has increased as a direct consequence of the pandemic. In fact, only in November 2020, there were approximately 17,157 sales of inherited homes according to data collected by the INE, which is the highest figure in the last 10 years. Likewise, it also followed an upward trend during 2021.

Due to these figures, which are many in a short time, it is common to have doubts about whether it is mandatory to register an inherited property and the cost of doing so. Below we see the 3 expenses that must be paid:

Inheritance Tax

This tax is progressive and varies according to the taxable base of the inheritance. Therefore, the greater the inherited amount, the higher the price regulated by Article 21 of Law 29/1987, of December 18, ranging between 7.65% and 34% on the taxable base of the property.

It should be noted that in Spain there is a 6-month period from the date of death to settle the inheritance.

Municipal Capital Gains Tax

Another cost that must be faced at this point is the municipal capital gains tax. It is a tax that each municipality has.

To calculate what needs to be paid, the number of years during which the deceased was the owner of the house and the cadastral value must be taken into account. Therefore, these aspects must be considered, and the price to be paid varies depending on the location.

Property Registration

The next expense you have to face if you find yourself in a situation like this is going to the Property Registry to register the property in the name of the heir. This process costs around 300-500 euros, and notarial fees and documentation must also be considered, making it reach even up to 900 euros.

Is it necessary to register an inherited property?

Considering these expenses, it is normal to wonder if it is mandatory to register an inherited property. The truth is that although it is not mandatory, it is advisable.

In what cases is it worth registering an inherited property?

The truth is that it can be interesting for a possible sale of the property, as it provides more security to buyers. It is a way for the heir to enjoy high profitability and not have to deal with the costs derived from maintaining the property.

Do you have any doubts left? As you can see, registering an inherited property can be expensive, and the price varies depending on the autonomous community. Therefore, we recommend always checking the property registration fees 2022 to avoid possible surprises.