It is a constant case on the Costa Blanca: Some foreign parents bought a house in Torrevieja twenty years ago and now their children, who live in Belgium, France, Netherlands or United Kingdom, They inherit a home in a country whose system they do not know. This guide explains, an order, what does it imply inherit a home in Spain as a non-resident and what decisions should be made.
What law applies to inheritance
By the European Inheritance Regulation, Inheritance is in principle governed by the law of the country of habitual residence of the deceased, unless in his will he had chosen the law of his nationality. That is why it is so important to locate the will (In Spain, the certificate of last wills reveals it) y, if there is a foreign will, legalize it. In any case, The property located in Spain is processed with a Spanish notary and Registry.
The procedures you can do without traveling
Almost everything can be managed remotely: you will need a NO (You can request it at the Spanish consulate in your country), and you can grant a Notarial power so that a representative signs on your behalf the acceptance of inheritance and, we proceed, the sale. Foreign certificates (death, marriage, notarial acts) They must come apostilled and with a sworn translation.
Taxes: where and how much
As a non-resident, You pay the inheritance tax before the state Tax Agency, but with the right to apply the corresponding regional regulations: if the plaintiff resided in the Valencian Community, the bonus of 99% for spouse, children and parents also reach you. The deadline is 6 months since death (extendable if requested in time), the same as the municipal capital gain of the town hall.
And after inheriting: keep or sell?
If you keep the house
You will assume their annual expenses (THE PLACE, community, insurance, supplies) y, as a non-resident, the annual IRNR declaration for income imputation even if the house is empty. If you rent it, You will be taxed on that income in Spain.
If you decide to sell
Remember two figures: The value for which you award the inheritance will be your acquisition price for the purposes of future profit, and when selling as a non-resident the buyer will retain a 3% of the price on account of your tax. With a good award valuation and a well-executed sale, the operation is clean and predictable.
The typical error: leave the house “for later”
Houses closed years, maintenance free, generating expenses, with the community claiming and losing value. If none of the heirs are going to really use it, Deciding early—renting or selling—is always the most profitable option.
At Mayrasa we are specialists in international owners: We coordinate inheritance and sale with a notary, We manage the home remotely and sell it with diffusion in several languages. If you have inherited a house in the area, we value it and sell it without having to come more than what is essential (or nothing, with power). Write to us in your language.
