Sale of Inherited Property: Legal Specifics and Practical Tips

The inherited property – emotions and law in one

An inherited property is often more than just square metres – it carries memories, stories and emotions. At the same time, its sale is a purely legal and financially significant transaction. This clash between feelings and the law is what makes selling an inherited property more complex than a standard deal.

Usually, there are several heirs who live in different places, have different plans and sometimes different expectations regarding the price. On top of that come documents, taxes, possible encumbrances and situations with minor heirs. That’s why it is important the process is handled in an organised and professional way.

Step 1: Clarify who owns what share

Before thinking about buyers and offers, it must be absolutely clear who owns the property and in what share. This is done through:

• Certificate of heirs – issued by the municipality at the deceased’s permanent address, listing the legal heirs;
• Title deed of the deceased – notarial deed, sale contract, donation, partition deed, etc.;
• Possible partition decisions – if there has already been a judicial or voluntary partition.

Each heir acquires an ideal (undivided) share – a percentage of the entire property, not a specific room or floor. The principle is simple: all heirs are co-owners until they jointly decide what to do with the property or reach a partition.

Step 2: Documents required for the sale of an inherited property

Once it is clear who the owners are, all the necessary documents for the sale must be prepared.

Usually the following are required:

• Title deed of the deceased;
• Certificate of heirs;
• Tax valuation certificate from the municipality;
• Certificate of encumbrances for the property from the Registry Agency;
• Cadastral sketch or scheme of the property from the Cadastre Agency;
• Documents related to the heirs’ marital status (marriage, divorce, etc.);
• Statutory declarations under the relevant laws (Tax and Social Insurance Code, Local Taxes and Fees Act, etc.), signed before a notary.

The notary verifies the identity and rights of the heirs, as well as whether there are any encumbrances – mortgages, injunctions, registered claims. If such are found, they must be removed or taken into account before the transaction.

СStep 3: What happens when there are many heirs

Inherited properties often have several co-owners – brothers, sisters, children and sometimes more distant relatives. The sale goes most smoothly when everyone agrees and is present or represented by a notarised power of attorney.

When all heirs are in agreement:

• A sale price is set that everyone accepts;
• A buyer is chosen – directly or through an agency;
• The heirs sign a preliminary contract;
• At the notary, all heirs or their authorised representatives attend;
• The price is distributed between them according to their ideal shares.

When there is no agreement on the sale or the price, this often leads to:

• One heir buying out the shares of the others;
• Voluntary partition – division of the common property by contract;
• Judicial partition – a court procedure in which the court determines the shares and, if necessary, orders a public sale.

Such processes take time and resources and sometimes lower the final price achieved. That is why it is wise for the heirs to try to reach a reasonable compromise.

Step 4: Inherited property and minor / underage heirs

When among the heirs there are minors (under 14) or underage persons (14–18), the sale has an additional specific feature – for their share of the property a permission from the district court at the child’s place of residence is required. This is a safeguard for the child’s interests – the court assesses whether the transaction is in their favour.

Usually the procedure includes:

• Filing an application with the relevant court;
• Describing the reasons for the sale and how the child’s interest will be protected;
• Evidence of the price and conditions of the deal;
• Court decision which permits or refuses the sale.

The notary checks whether such permission exists. Without it, the transaction for the child’s ideal share cannot be executed.

Step 5: Taxes and costs when selling an inherited property

The sale of an inherited property involves several types of costs:

• Local transfer tax – determined by the municipality where the property is located;
• Notary fee – depends on the value of the transaction;
• Registration fee for entering the deal in the Property Register;
• Possible costs for valuation, powers of attorney, legal assistance, etc.

The tax treatment of the income from the sale depends on various factors – when the property was acquired, how many properties the person sells within a certain period, etc. For the exact tax implications it is wise to consult an accountant or tax advisor.

Typical mistakes when selling an inherited property

Common mistakes that delay or block the process are:

• Starting the sale before all heirs are identified;
• Underestimating emotional conflicts between relatives;
• Signing documents without consulting a lawyer;
• Agreeing on a price “verbally” that some heirs do not accept;
• Ignoring minor / underage heirs and the need for court permission.

Avoiding these mistakes saves time, money and tension.

КHow a professional agency helps with inherited properties

The sale of an inherited property also has a clear market dimension – even if all documents and heirs are in order, a buyer at a good price still has to be found. This is where the role of a professional real estate agency comes in.

A team like Varna Home Center can assist with:

• Realistic valuation according to the market in Varna and the region;
• Sales strategy – positioning, marketing, presentation of the property;
• Coordination of communication between heirs;
• Working with lawyers, notaries and credit consultants;
• Organising viewings and negotiations so that the process is transparent for all parties.

When some of the heirs do not live in Varna or are abroad, professional organisation becomes even more valuable. Through the “Sell a property” page you can send the key information about the inherited property and receive feedback on a possible approach, time frame and indicative price.

Structured approach instead of improvisation

An inherited property should not turn into a source of family conflict and endless disputes. With a structured approach – clarity about heirs and shares, complete set of documents, professional legal advice and a good marketing strategy – the sale can be carried out calmly and on favourable terms.

A partner like Varna Home Center can take over the heavy organisational part so that you can make an informed decision and turn the inheritance from a source of tension into an opportunity for new plans.