Spain Explained

Time frame to complete the Inheritance process in Spain

Last updated on March 19th, 2020 at 02:04 pm.

Nobody is really prepared for a bereavement, but unfortunately all legalities need to be completed within a certain time limit.

In our country there is no transfer of ownership from deceased to inheritor automatically upon decease, on the contrary in Spain it is necessary to sign a new title deed where the estate registered in the name of the decease is transferred to the proved as legal inheritor.

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The inheritance process needs to be completed within six months since the date of death. A new Title Deed for the Spanish assets, in the inheritor’s name, must be signed in the presence of a Public Spanish Notary.

Before this new ownership can be registered at the corresponding Authority, as the Law stands, there is an obligation to declare Inheritance Tax (even though this might be 0 depending on individual circumstances) and Plusvalía tax.

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When delaying the tax declaration later then the above indicated six months this will have as a consequence a penalty fee and late payment interest on the Tax that will vary depending on how long you delay the Tax Declaration. After six months from the decease starts counting the period when you are applied extra fees, every three months will be applied a 5% extra on the amount due to be paid up to 20% payable if there is a delay of a year, since then the current legal interest of money will be applied.

Therefore it is essential to contact us to start with the Inheritance process with time enough, in order to avoid further complications in such a difficult moment.

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2 comments

Lynda CECALA

26 December, 2021 10:16 pm

My husband transferred his money from USA to an account in Malaga in Spain. He had a NIE. Suddenly he died. The Notary in Fuengirola has sent his will To Florida be APOSTILLISED. He said once it’s been APOSTILLISED, returned to Spain and translated into Spanish then the funds will be payable to me. I am the sole executor, no children. . There is no property either. Just purely funds in Banco Santander. The bank manager said once the paperwork in USA is complete they will transfer funds into my name. Roughly, what is the time scale on this. He died 8th October, 2021. Notary and bank were 8 infirmed immediately. There is a copy if the will and the original is in USA awaiting appostilation..

Oscar Paoli

3 January, 2022 6:04 pm

Hi Lynda,
We believe that the best thing to do is to ask the bank directly, they are the ones who will have to release the funds and transfer it to your name. You mention that the notary in Fuengirola is doing the paperwork for you, perhaps they have a more detailed idea of the time frame in which they expect to have things arranged. Each bank works differently and it takes a certain amount of time depending on which one. If you have any problems or you are not happy with who is handling the transfer, we can provide the service should you require it. You are welcome to contact us at legaldpt@abacoadvisers.com
With kind regards,
Ábaco Advisers