What other expenses will the heir incur when selling the inherited apartment
Inheritance is a common procedure that allows you to take possession of a house, apartment, land plot and any other movable and immovable property. Receiving an inheritance, a person becomes the rightful owner, and has the right to dispose of housing at his discretion: sell, exchange, issue a donation. But at the same time, it is important to observe the procedure established by the current legislation and pay all taxes. Knowing the nuances and subtleties will allow you to make a deal as quickly as possible and avoid penalties.
After receiving the inheritance of real estate , it is necessary to perform a number of actions: enter into the right of inheritance within six months; obtain a death certificate of the person from whom the property was inherited; get a certificate of inheritance; pay the state duty; register for inherited housing.
After the execution of the above documents, the heir can sell the property. If the period of ownership of the apartment is less than 3 years, the heir will have to pay income tax to the state, otherwise the tax will not be charged. The term of ownership in this case is counted not from the moment of entry into ownership, but from the date of death of the testator.
If the inheritance was received after 31.12.2015, the period of ownership of real estate increases to 5 years.
Another point that needs to be taken into account when selling inherited housing is its cost. If the sale price does not exceed 1 million rubles, you will not have to pay the tax. But, regardless of the transaction amount specified in the contract, the cadastral value of the apartment will also be taken into account.
If you sell a property with a cadastral value of 3 million at a price of 1 million in order to avoid paying the fee, the tax rate will be 13% for the amount of 2 million.
The amount of the tax deduction also depends on the period during which a person is on the territory of the Russian Federation, while the presence of citizenship does not matter. Residents (people staying in Russia for more than 183 days) will pay 13% of the tax, and non-residents - 30%. The exception to this rule is several categories of citizens, including military personnel and civil servants performing their duties abroad, as well as highly qualified specialists whose competencies are highly valued by the state, such people are included in a separate list. The listed categories pay a tax of 13% regardless of the length of stay in the country.
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