As a continuation of the post "A loan to get an inheritance Part I" today we are going to explain a typical case in which you may have the need to resort to a loan and cover the expenses that an inheritance can generate. Suppose that we are the beneficiaries of an inheritance due to the death of a relative, in this case, the first thing that we must obtain will be the death certificates .
- Certificate of registration of general registration of acts of last will.
- Certificate of registration of insurance with coverage of death.
Later we will have to carry out the inheritance title with the reading of the will and the subsequent declaration of heirs, notarial and judicial.
At this point, only notarial costs are accrued and, where appropriate , registration costs , which are usually not very high.
One month after the declaration of heirs, said declaration has been processed with the publication in the BOPA of the hereditary succession and with the claim to the effect of possible unknown heirs at first.
If everything circulates in the steps provided, the inventory of the assets of the inheritance received will be carried out:
- Cash, balances, shares
- Furniture, jewelry, household furnishings
And the liabilities
- Debts of the deceased
- Inheritance debts
In carrying out this process and its total assessment, it results in a provision for the settlement of the hereditary partition, which may vary in each community depending on the type of floral taxation that exists.
It is this moment when we can request the necessary loan to cover the expenses derived from the hereditary adjudication, such as the payment of inheritance tax and the municipal tax on the increase in urban land value.
The loan will remain pending the registration of the properties that are inherited. This registration usually takes a few months depending on the site and the speed of registration. Finishing the process with the delivery of the goods and the appearance in the simple note that identifies the properties owned by the heir and the loan made as a charge pending cancellation.
This is when the owner can sell, mortgage or cancel the debt incurred by other means.
In SEattle Meditation we have associated legal services that can be in charge of the entire process, consult with our advisors the possibilities of obtaining a loan between individuals to settle an inheritance here and solve the payment of your taxes.
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