Sale of Inherited Assets | Izmir Inheritance Lawyer
To sell an inherited property, the transfer of inheritance must first be completed. In other words, if you wish to sell the inherited property to someone other than the heirs, you must first register the property in your name in the land registry. Especially considering that inheritance and transfer taxes will also be paid, heirs should complete the registration of the inherited real estate in the land registry as soon as possible.
Upon the death of a testator, heirs have several ways to divide the inheritance. The first is through an agreement among the heirs themselves. Unless otherwise stipulated in the legislation, heirs can freely decide how the inheritance will be divided in this way. Heirs who encounter problems regarding the division of the inheritance can resort to legal action. In the remainder of this article, we will discuss the procedure that follows in the case of an agreement.
- Law No. 4721 Turkish Civil Code’According to Article 640 of the Turkish Commercial Code, until the inheritance is divided, a joint decision must be made regarding all rights related to the inheritance. Therefore, the sale of the inherited real estate requires the joint decision of all shareholders.
- Miras kalan taşınmaz ve borçların mirasçılara geçme işlemi, miras intikali olarak adlandırılır. Bunun için öncelikle, miras bırakan vefat ettiğinde miras paylarını gösteren veraset ilamını Sulh Hukuk Mahkemesinden ya da noterden almanız gerekmektedir. Veraset ilamının alınmasıyla birlikte vekalet verilen kişi, (varislerin tamamı birlikte hareket edebilir ya da varislerden bir kişiye yetki verilebilir ), tapu müdürlüğüne başvurarak; kimlik aslı, fotoğraf, zorunlu deprem sigortası, mirasçılık belgesi, miras bırakana ait ilgili vergi dairesinden alınan veraset ve intikal vergisinin ödendiğini gösterir belgeyi sunarak üzerine alabilir.
- Inherited properties are exempt from title deed fees. Therefore, those wishing to register an inherited property only pay a fee to the land registry office according to the tariff determined by the revolving fund management (the amount of which changes annually). Apart from this amount, inheritance and transfer tax is paid to the tax office.
- If an inherited house is sold, the proceeds are distributed among the heirs according to the proportions stated in the inheritance certificate. For example, if a house worth 800,000 Turkish Lira is sold, an heir with a 1/2 share can claim 400,000 Turkish Lira of the sale price.
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