5 things you should consider as an heir to a property

After the death of a loved one, surviving relatives often face significant challenges. They must not only cope with their grief and organize the funeral, but also consider what to do with the inherited property. Certain points should be carefully considered to ensure the process runs as smoothly as possible.

1. First, determine the estate

• Clarify any existing liabilities.
• Check the land register entry.
• Contact banks and insurance companies.
• Search through bank documents, account statements, and insurance documents.
• Inform relevant contractual partners such as employers, pension funds, insurance companies, landlords or creditors.

2. Find out who will inherit the assets

• Check if a notarized will exists.
• Determine the location where the will is kept.
• If you do not know the location where the documents are kept, submit an inquiry to the probate court.
• If you are in possession of the will: Submit the will to the probate court.

3. What are the legal rules of inheritance if there is no will?

• Without a will, the assets are inherited by the surviving relatives according to their compulsory shares.
• Inheritance occurs according to the degree of kinship.
• Spouses and children are considered first-degree relatives. They receive the largest shares.

4. What you should consider as an heir to real estate before making a decision

• From the date of notification, you have six weeks to decide for or against the property.
• Find out how valuable the property you are inheriting actually is.
• Can you also cover any existing debts and other liabilities?
• How much is the tax on the inherited house?
• Does the inheritance come with any specific conditions or restrictions?
• What issues do you need to clarify with the other heirs if you are not the sole heir?

5. This is what you need to do when accepting an inheritance of real estate

• Prove your legal succession using the certificate of inheritance at the land registry office.
• Apply for the certificate of inheritance at the probate court.
• Have the land register entry changed, because only then will you be considered the legal owner.
• If you allow the change to the land register entry within two years of the testator's death, you will save on land register fees.

Have you inherited a property and are unsure what the best solution is? Feel free to contact us anytime! We look forward to advising you.

Notice

For the sake of readability, this text uses the generic masculine form. Female and other gender identities are explicitly included where relevant to the statement.

Legal notice: This article does not constitute tax or legal advice for any specific case. Please consult a lawyer and/or tax advisor to clarify the facts of your individual situation.

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