Last year 384,633 inheritances were carried out in Spain, almost 38,800 were rejected by the legitimate heirs, if we compare them, for example, with those of 2007, the year of the outbreak of the crisis. A decade ago there were 323,411 inheritances in Spain, almost 20% less than in 2016, while the resignations have multiplied by three.
One of the main causes of inheritance waiver is the impossibility of the heirs of facing the payment of the expenses. The Inheritance and Donations Tax in Madrid, for example, is 99% subsidized and therefore does not imply a large outlay for the heir, in other communities such as Extremadura, Catalonia or Andalusia, this tax is much higher. The limit to pay the inheritance tax is six months from the date of death, but there is the possibility of requesting the extension for another six months. The second type of Tax is the Municipal Capital Gain, which municipalities charge, and taxes the increase in value of the urban land that is revealed at the time of the transfer of a property, the payment is assumed by who receives the inheritance, and has six months to pay from the date of death with the possibility of an extension of one year at the request of the taxpayer.
In order to be able to renounce an inheritance, it is important to resign before the end of the period of voluntary payment of six months of the Inheritance and Donations Tax. In this way, as the effects of the repudiation of the inheritance go back to the moment of the death of the deceased, it is understood that he has never been an heir and is not subject to the inheritance tax. If, on the contrary, the resignation occurs later, the law considers that this waiver, for tax purposes, is like a donation to the rest of the heirs and therefore is subject to the corresponding tax “.
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