Sale of hereditary rights
The inheritance procedure is among the most common actions of our Notary Office in Barcelona. The sale of hereditary rights, also known as inheritance sale, is one of the specialties within our management services for inheritances in Barcelona. Therefore, we wish to introduce you to this matter, explaining what the sale of hereditary rights is, and how to carry it out step by step.
Remember that we can process a sale of hereditary rights for you as long as you can come to sign in person at the offices of JLA Notarios - notary office Barcelona.
Sale and purchase of hereditary rights
In certain circumstances, there are people who inherit and wish to sell the entirety of their inheritance to third parties in exchange for financial compensation. It may be the case that they want to sell this inherited estate either to a co-heir or to unrelated persons. This legal transaction is known as the sale of hereditary rights.
Why does this situation occur? There is not just one answer to this question. It may be that the heir does not want to receive this part of the inheritance, will not use it, needs liquid money, or does not want to share the inheritance with other heirs.
Characteristics of the sale of hereditary rights
The sale of inheritance rights presents different types of difficulties, so it will be necessary to legally study your specific case.
Among the main characteristics of the sale of inheritance rights, we find that each heir can voluntarily decide whether to sell their inheritance or not and to whom they sell their inheritance rights, without the need for authorisation or consent from the other heirs. Therefore, each heir can decide to sell their rights in an inheritance to the person they choose and for the price they agree on.
However, if there are several heirs in the same inheritance and only one wants to transfer their inheritance and the rest do not, it should be known that the other heirs have a right of first refusal, consisting of the right to acquire the part of the heir who wants to sell at the same price that had been decided to sell. This right of first refusal must be exercised during the month following the sale of inheritance rights and applies both in the Spanish Civil Code and in the Catalan one.
Likewise, the heir who wishes to proceed with the sale of their inheritance rights must prove their status as an heir and must manage this procedure before the division of the inheritance, since it will be the person to whom they sell who must attend the division with the rest of the co-heirs. However, they should also know that an agreement can be reached for the sale of the inheritance once it has been accepted and the distribution of the assets among the heirs is pending.
You should also know that when the sale of inheritance rights occurs, the rights corresponding to the selling heir over the inheritance are acquired, which implies that the buyer receives the position that the heir had. Therefore, until the division takes place, the assets of each one are not specified. Then, once the inheritance has been processed, after the allocation to the heirs of each of the parts, the buyer receives the assets.
The sale of inheritance rights is a relatively simple procedure. However, it is important to know that the buyer of inheritance rights also receives the obligations corresponding to the heir in the inheritance. Therefore, apart from the assets of the inheritance, if any, the buyer will have to take care of the deceased’s debts, which can occur when there are guarantees, debts or endorsements in the inheritance.
Sale of hereditary rights between heirs
One of the most common options is the sale of hereditary rights between heirs. Imagine that you are married and inherit a property in which your siblings still live. The inheritance allows division among the siblings according to the number of heirs. Each of them would be entitled to a share. If you do not want to live together and one of your siblings is interested in buying your share to become the owner, a sale of hereditary rights could be processed (although in some cases, it may also be more useful to resort to the figure of the termination of the community, as it can be cheaper from a tax perspective).
Furthermore, if there are several co-heirs and one wants to sell their inheritance to another person who is not an heir, the rest of the co-heirs have a right of first refusal, which allows them to buy this inheritance at the agreed price within the month following the sale, as explained earlier.
However, if you are the sole heir of a real estate property and sell the hereditary rights of this property, there will be no type of right of first refusal.
The sale of hereditary rights in Spain
Likewise, the sale of hereditary rights in Spain involves the sale of the rights deriving from the heir's position. Thus, not only are real estate properties transferred, but also other assets, such as movable goods, bank deposits, vehicles, shares or stakes in companies, among others. Furthermore, in the sale of hereditary rights, the obligations and burdens present in the inheritance are also sold along with the rights.
Contract for the sale of hereditary rights
The document on which the sale transaction is carried out is known as the deed of sale of hereditary rights and with it it is guaranteed that this process takes place effectively and legally.
The Purchase of Inheritance Rights step by step
If you wish to process a contract for the sale of hereditary rights and have already found a buyer or interested parties, and have even agreed on a price for them, you should make an appointment at a Notary's office.
For this, the Notary you choose will receive you and advise you on the procedure. The Notary is a legal figure who will assist you in this process. You should bear in mind that the economic needs at the time of selling hereditary rights may mean that your share of the inheritance is bought at a lower price than it should be. Therefore, we recommend that you evaluate and be sure of your decision. Likewise, we recommend having an appraisal of what you want to sell and the calculation of the taxes you may face. Consult us for legal and tax advice if you reside in Catalonia.
One of the functions that the notary will perform is to ensure that the heir who sells is indeed an heir, which will involve reviewing the will in which the heir was appointed at the notary's office, or, in the case of intestate succession, analysing the declaration of heirs.
Likewise, it will be checked that neither the will nor the appointment of heirs is challenged. Also, the Notary will verify that all sellers and buyers are fully capable of making the sale.
Once advised, the Notary's office will draft a sales agreement detailing the conditions under which the sale will take place, the price agreed upon, the method of payment, and any deadlines if applicable. After this, the documents will be signed by both interested parties and authorised by a Notary.
Documentation for the contract of sale of hereditary rights
On the day of the appointment with your Notary, you must provide the following documentation:
- Valid DNI or identification document.
- Death certificate proving the death of the person whose inheritance rights are being processed.
- Death record certifying the fact by the Civil Registry.
- Certificate of last wills.
- Authentic copy of the last will to establish how to distribute the inheritance.
- Original deed of acceptance of inheritance.
- The purchase price and the method of payment.
Other questions related to the sale of hereditary rights
In the case of the sale of an inheritance or the sale of hereditary rights, taxes must be paid by several parties. On the one hand, the seller must settle the Inheritance Tax and the buyer will have to pay the Transfer Tax.
Thus, both seller and buyer will have to pay taxes, as the Tax Agency understands that the seller of an inheritance has accepted it, since otherwise they could not sell the inheritance, which obliges them to pay the inheritance tax and the corresponding capital gains tax (the capital gains tax will only be paid by the seller if there are properties in the inheritance).
At JLA Notarios we offer a comprehensive service in successions. Therefore, if you wish, we can process, together with your deed of sale of hereditary rights, the Inheritance and Transfer Taxes that must be paid to the Tax Agency.
Furthermore, the seller may have to declare capital gains in the income tax of the person who succeeded and their own, if any. This is the only procedure that we do not manage from the Notary's office, as it must be declared in the Personal Income Tax return.
They are generally assumed by the person who acquires the hereditary rights, although it depends on what has been agreed.
The legatee, unlike the heir, does not have an ius delationes. This means that the heir's right only materialises when accepted, whereas in a legacy, the legatee is such from the moment of the testator's death, although they may renounce this legacy. Therefore, unlike the heir, the legatee cannot sell their position, but directly the asset or right bequeathed, especially in pure and simple legacies. In the case of legacies subject to condition or term, the asset or right bequeathed is also sold, although the acquisition will remain pending completion until the condition or term is fulfilled.
The main problem with the sale of legacies is delivery, since, in principle, delivery corresponds to the heirs, so the purchaser must claim delivery and possession of the bequeathed object from them, unless the legatee is authorised to take possession themselves.
The price of notarial acts is regulated by the Government and complies with the regulatory legislation of the NOTARIAL FEE SCHEDULE (RD 1426/1989, of 17 November, regulating the Notaries' Fee Schedule). The notarial fee schedule means that all notaries must always adhere to the notarial fee schedule.
However, the exact price of a notarial document cannot be calculated until its specific content is known, that is, until it is signed, as there are many circumstances that can cause it to vary. The sale amount, the number of sellers and buyers, the number of copies requested of a document, the number of pages it contains, as well as possible changes or additions, can slightly alter the final price.
At JLA Notarios we offer a comprehensive service in successions and inheritances, so we can prepare a no-obligation quote tailored to your specific case. You should know that the factor that most affects the variation in the price of an inheritance sale is the sale price. Additionally, if you wish, we can include in the quote the costs of taxes and the processing of the registration of the properties in the Land Registry.
If you wish to receive a detailed quote, we invite you to contact us directly through the method that is most convenient for you. You can do so via the contact form on the main page of this website, through the contact section found in the footer of the website, by using the direct WhatsApp access at the bottom right of this page, by sending an email to bcn@jlanotarios.com or by calling us at 93 159 17 62.
JLA Notaries for the Sale of Inheritance Rights in Barcelona
The drafting of the contract for the sale of hereditary rights is one of the procedures we specialise in at our notary office. Processing an inheritance in Barcelona requires a high level of expertise to ensure it is completed in the most appropriate way and to avoid subsequent problems.
Thanks to the training and experience of the entire team, at JLA Notarios we provide the most suitable legal solutions in the different areas affecting the individual and their assets, including the processing of inheritances in Barcelona, with the aim of offering you free advice on your enquiries. With a close and friendly approach from the first contact, at JLA Notarios we work dynamically and empathetically, seeking maximum efficiency and the best profitability for each client, addressing the concerns of each person or company in a personalised manner for their complete satisfaction. To this end, at JLA Notarios we apply new technologies in all procedures, minimising visits to the notary office and optimising processing times. For this reason, we have also transformed into an online notary office. However, current law requires you to come and sign the contract for the sale of hereditary rights in person at our notary office on Avenida Diagonal in Barcelona.
If you need to process an inheritance in Barcelona, you can contact us via our email or through the contact form on our website. You can also consult our wide range of Services in Wills and Inheritances and we will assist you with whatever you need.
JLA Notarios-Notaría Barcelona is a notary office in Barcelona. We will be delighted to assist you. We hope this text has been helpful and valuable to you.
By your side in the moments that matter
Wills and inheritance
Making a will, making a declaration of heirs or awarding inheritance are very important moments in people’s lives.
At JLA Notarios we offer inheritance law services, both to arrange your estate and to divide up inheritance, guaranteeing the best advice for your particular needs while studying the tax implications of each case. We never forget the human factor. We even offer a notary service at home if necessary.
Contracts and property law
Over the course of our lives, we carry out important actions, such as buying a home, declaring a new-build, lifetime gifting to our children or ending partnerships, among many others.
At JLA Notarios we are experts in property and contract law and buying and selling property. We guide our clients, analysing each particular issue and always considering the tax burden of each transaction.
In addition, some of our notarial services can be performed online, so we can assist you from anywhere in Spain. Contact us to declare a new-build or a commonhold ownership structure online.
Mortgage
Taking out a mortgage is one of the biggest moments for anyone. Just think of the fees and interest you may have to pay for much of your life. So it is essential to have a trusted notary to help you understand what you are signing, explaining the tricky legal terms and their future consequences in simple words, to provide transparency and protect our clients.
At JLA Notarios we are aware of the importance of giving complete and understandable information to people about to sign a mortgage, novation or subrogation. We also advise and guide you on your future mortgage cancellation.
Loan agreements and credit facilities
Individuals and companies often need money to fulfil their dreams or projects. This can be obtained by taking out a loan or credit facility with your bank. When you sign, it is essential to understand the details properly to avoid future surprises.
JLA Notarios can be your trusted notary office, giving you accurate advice on loan contracts, providing a very agile and specialised service for processing loan contracts.
Bear in mind that from 9 November 2023, you will be able to sign your loan contracts from anywhere in Spain electronically by videoconference with JLA Notarios, saving you time and money. Do not hesitate to contact us to find out more about the notary office’s services in order to sign a loan contract online or sign a credit facility online.
Companies
Without entrepreneurship there is no future, so it is of vital importance to support our businesspeople and entrepreneurs.
At JLA Notaries we are familiar with companies’ life cycle, which enables us to provide legal assistance for companies in their different stages, whether incorporation, modifications of their articles of association, changes of director, share sales and purchases, capital increases and reductions, dissolution and closure, and everything related to commercial matters.
Powers of attorney
There are moments in life when a person needs to delegate. The law provides a tool for this: powers of attorney. Though a power of attorney, one person allows another person to act on their behalf.
At JLA Notarios we make sure that you understand the significance and risks of delegating or revoking powers of attorney, from a special power of attorney or power of attorney for lawsuits, to general powers of attorney or preventive powers of attorney for cases of incapacity.
We provide an agile service to sign powers of attorney. You can take your copy away immediately, saving you unnecessary trips, and from 9 November 2023 our clients will be able to sign all powers of attorney that are not general or preventive by videoconference through our digital notary office.
Family affairs
A prosperous society is based on the family and its protection. Family Law provides you with the tools to protect your family and its members, so its foundations are solid and its purposes can be achieved.
At JLA Notarios we provide legal advice on marriage or civil partnerships; property aspects of the family through marriage contracts or civil partnership contracts; the moments when the family relationship is ended, in cases such as divorce or separation; and protection of vulnerable people, such as minors or people with modified capacity, through deeds of appointment of guardians or executors or creation of protected assets. We do all of this in a way that makes everyone involved feel equally supported and secure.
Certifications and authentications
It is common knowledge that notaries attest. That important and simple action can guarantee things of vital importance, such as ensuring that the signature on a document is authentic or certifying that a copy of a document matches the original.
At JLA Notarios we will help you to certify a document or notarise a signature in accordance with the law and tailored to your specific needs.
In addition, these notarial procedures can be carried out conveniently through electronic means from 9 November 2023.
Minutes
How many times have you wanted to leave a record of an event, of a statement, of the condition in which an object is found, or notify someone of any matter. To provide a solution to these issues, the Law provides us with notarial records.
At JLA Notarios we adapt to you, reflecting in the record what you require and carrying out the notifications and requests that you demand.
Oath of Nationality
Behind every nationality oath there is a story of overcoming, sacrifice and waiting.
At JLA Notarios we understand what this moment means and offer an empathetic, agile and quick service, advising beyond the oath itself, anticipating the future requirements that the new Spanish citizen will need.
We are your reference Notary to carry out the nationality oath before a Notary in Barcelona.
Apostille of the hague convention
Globalisation enables the free movement of people and documents of all kinds. How can you guarantee that a document has been officially issued? With an apostille of the Hague Convention.
JLA Notarios can obtain an apostille for all documents executed before us so they are valid and recognised abroad. We do this transparently and save you all the bureaucratic procedures involved.
Tax and registry procedures
Tax bureaucracy can cause a lot of headaches.
So JLA Notarios offers its clients the possibility of assessing and paying the many different taxes by the executing deeds and carrying out other procedures before the notary. We can also file them with the Land or Companies Registry so you do not have to concern yourself with it and can spend your time on the things that matter. We support you from start to finish.
Wills and inheritance
Making a will, making a declaration of heirs or awarding inheritance are very important moments in people’s lives.
At JLA Notarios we offer inheritance law services, both to arrange your estate and to divide up inheritance, guaranteeing the best advice for your particular needs while studying the tax implications of each case. We never forget the human factor. We even offer a notary service at home if necessary.
Contracts and property law
Over the course of our lives, we carry out important actions, such as buying a home, declaring a new-build, lifetime gifting to our children or ending partnerships, among many others.
At JLA Notarios we are experts in property and contract law and buying and selling property. We guide our clients, analysing each particular issue and always considering the tax burden of each transaction.
In addition, some of our notarial services can be performed online, so we can assist you from anywhere in Spain. Contact us to declare a new-build or a commonhold ownership structure online.
Mortgage
Taking out a mortgage is one of the biggest moments for anyone. Just think of the fees and interest you may have to pay for much of your life. So it is essential to have a trusted notary to help you understand what you are signing, explaining the tricky legal terms and their future consequences in simple words, to provide transparency and protect our clients.
At JLA Notarios we are aware of the importance of giving complete and understandable information to people about to sign a mortgage, novation or subrogation. We also advise and guide you on your future mortgage cancellation.
Loan agreements and credit facilities
Individuals and companies often need money to fulfil their dreams or projects. This can be obtained by taking out a loan or credit facility with your bank. When you sign, it is essential to understand the details properly to avoid future surprises.
JLA Notarios can be your trusted notary office, giving you accurate advice on loan contracts, providing a very agile and specialised service for processing loan contracts.
Bear in mind that from 9 November 2023, you will be able to sign your loan contracts from anywhere in Spain electronically by videoconference with JLA Notarios, saving you time and money. Do not hesitate to contact us to find out more about the notary office’s services in order to sign a loan contract online or sign a credit facility online.
Companies
Without entrepreneurship there is no future, so it is of vital importance to support our businesspeople and entrepreneurs.
At JLA Notaries we are familiar with companies’ life cycle, which enables us to provide legal assistance for companies in their different stages, whether incorporation, modifications of their articles of association, changes of director, share sales and purchases, capital increases and reductions, dissolution and closure, and everything related to commercial matters.
Powers of attorney
There are moments in life when a person needs to delegate. The law provides a tool for this: powers of attorney. Though a power of attorney, one person allows another person to act on their behalf.
At JLA Notarios we make sure that you understand the significance and risks of delegating or revoking powers of attorney, from a special power of attorney or power of attorney for lawsuits, to general powers of attorney or preventive powers of attorney for cases of incapacity.
We provide an agile service to sign powers of attorney. You can take your copy away immediately, saving you unnecessary trips, and from 9 November 2023 our clients will be able to sign all powers of attorney that are not general or preventive by videoconference through our digital notary office.
Family affairs
A prosperous society is based on the family and its protection. Family Law provides you with the tools to protect your family and its members, so its foundations are solid and its purposes can be achieved.
At JLA Notarios we provide legal advice on marriage or civil partnerships; property aspects of the family through marriage contracts or civil partnership contracts; the moments when the family relationship is ended, in cases such as divorce or separation; and protection of vulnerable people, such as minors or people with modified capacity, through deeds of appointment of guardians or executors or creation of protected assets. We do all of this in a way that makes everyone involved feel equally supported and secure.
Certifications and authentications
It is common knowledge that notaries attest. That important and simple action can guarantee things of vital importance, such as ensuring that the signature on a document is authentic or certifying that a copy of a document matches the original.
At JLA Notarios we will help you to certify a document or notarise a signature in accordance with the law and tailored to your specific needs.
In addition, these notarial procedures can be carried out conveniently through electronic means from 9 November 2023.
Minutes
How many times have you wanted to leave a record of an event, of a statement, of the condition in which an object is found, or notify someone of any matter. To provide a solution to these issues, the Law provides us with notarial records.
At JLA Notarios we adapt to you, reflecting in the record what you require and carrying out the notifications and requests that you demand.
Oath of Nationality
Behind every nationality oath there is a story of overcoming, sacrifice and waiting.
At JLA Notarios we understand what this moment means and offer an empathetic, agile and quick service, advising beyond the oath itself, anticipating the future requirements that the new Spanish citizen will need.
We are your reference Notary to carry out the nationality oath before a Notary in Barcelona.
Apostille of the hague convention
Globalisation enables the free movement of people and documents of all kinds. How can you guarantee that a document has been officially issued? With an apostille of the Hague Convention.
JLA Notarios can obtain an apostille for all documents executed before us so they are valid and recognised abroad. We do this transparently and save you all the bureaucratic procedures involved.
Tax and registry procedures
Tax bureaucracy can cause a lot of headaches.
So JLA Notarios offers its clients the possibility of assessing and paying the many different taxes by the executing deeds and carrying out other procedures before the notary. We can also file them with the Land or Companies Registry so you do not have to concern yourself with it and can spend your time on the things that matter. We support you from start to finish.
