The first step in selling a property received as an inheritance is to pay the taxes that amount to it. The amount to be paid will be calculated in the declaration of succession, a deed to be presented within one year of the death of the owner, which contains the list of all the assets and the relative values of the deceased.
Understand the Documentation Process
You can draw up this document in total autonomy, using the specific software of the Revenue Agency. Alternatively, you can rely on an accountant, notary or lawyer to support you throughout the process of paying the inheritance tax. The rates vary from 4 to 8% depending on the degree of kinship that binds the deceased to his heir. In certain cases, there is also a fixed minimum value called a deductible to be paid in addition to the value of the house.
What taxes must be paid before submitting the inheritance declaration? As in an ordinary sale, the taxes to be paid are two:
- The cadastral one, with a rate of 1% on the value of the property.
- The mortgage corresponding to 2%.
In the event of inheritance, stamp duty, mortgage tax and special taxes (for example, secretarial fees) must also be paid. At the same time you will need to know about the estimate tax refund through the tax calculators.
Acceptance of the inheritance
If on your part there is the will to sell, you must add two steps to the declaration of succession: the acceptance of the inheritance and the transcription of the same.
The act of acceptance of the inheritance can have two forms:
Expressed, when the heir expresses the will to accept the assets object of the inheritance, through a formal declaration to a Public Official, or through an authenticated private agreement.
The transcription of the acceptance of the inheritance takes place in front of a notary and to proceed you will have to present the death certificate of the deceased and the deed of succession.
Understand the Sale
In this article we have seen how much it costs to sell a house, but as you already know, sales taxes are not the only thing to worry about when you decide to sell a property. Selling a house in Italy is a process that can take you for several months, require numerous visits to your home and often leave you a lot of confusion on market prices.
The movable tax was established in proportion to the actual or presumed rent paid by each citizen already subjected to the personal contribution. To these two taxes was added that of the patents, which originally replaced the previous rights of admission in the suppressed guilds of arts and crafts. It affected all the incomes of industries and businesses according to external signs or indications, that is mainly taking into account the particular economic activity exercised, the population of the locality of the exercise, and the rent of the premises intended for the exercise itself.