How to solve this situation between those called to inherit the deceased?
One of the most successful responses to avoid conflicts between the heirs over the value of the assets is to ask for their appraisal. Once the inventory of the assets has been made and before starting their valuation, the heirs have to accept that the value obtained will be taken as a reference to carry out the distribution and adjudication of the same.
The figure of a person unrelated to the case ensures impartiality in the process.
The independent appraiser will be in charge of studying and analyzing each one of the same that make up the inheritance and give a real value.
What assets are the ones that most frequently cause conflicts between the heirs
Undoubtedly, the assets that cause the most disputes between heirs are real estate. In the vast majority of inheritances, they are the goods that generate the most conflicts in terms of their valuation.
They are “the icing on the cake”, those assets left by the deceased with the highest market value and for which one of the heirs is capable of doing anything.
Apart from real estate, there are other types of goods that must be given a value and that cause, to a greater or lesser extent, confrontation between the parties. We refer to movable property and content in housing. The vehicles of the deceased can either be valued or the value offered by the Ministry of Finance can be taken as their value. Last but not least, there are goods such as jewelry and art that also have to be valued. Even more so when, due to their typology and quality, they make them highly valued pieces.
But how to value the assets of the heirs?
The way to value the assets of the inheritance depends on its characteristics.
If we refer to real estate, there are four methods to appraise them. On the other hand, if the object of appraisal deals with the furniture of the deceased, a value must be obtained based on the age of the asset, its useful life and its condition.
If you want to evaluate the vehicle of the deceased, you have to take into account its age, condition, improvements and mileage. Based on these four parameters and a previous study of the market, you will be able to obtain the real value of the vehicle in question.
Ways to value real estate in Inheritance
Through the ECO order 805/2003, there are four methods of property valuation. We list them below:
- Comparison: This method is based on comparing the property being valued with other similar properties, also called witnesses. This comparison is based on internal and external conditions, where a proportionality relationship between the witness property and the one that is subject to appraisal is shown.
- Cost: Through this method, the gross or net replacement cost of any home or building can be estimated.
- Income update: According to this analytical technique, it can be indicated that the value of a property will be determined according to the predictable income that it may generate in the future. This means that the income that the asset will be able to generate in its useful life is considered, in order to calculate its current price.
- Residual: Using this way you can establish the value of the land, in urban and developable land, whether they are built on or not.
Who values the assets of an inheritance
An expert appraiser will be the one who will carry out the valuation of the assets of an inheritance. Depending on the scope of action and the particular case, the participation of different types of appraisers will be needed.
In case of distribution of inheritance or when there is a disagreement between the beneficiaries, it is essential to have a good expert appraiser. He will be in charge of studying the market, valuing the assets, and making possible a fair distribution among the heirs.
What happens in an inheritance if one of the heirs does not want to sell
As is logical in a process of this type, it may be the case that one of the heirs does not want to sell his part of his property. In this case, it is necessary that all the parties want to sell, in a co-ownership regime, in order to carry out the sale of the property.
It can happen that an heir acquires the part of him to which he does not want to sell, that is, make a sale between them. If the problematic heir does not want to see reason, there will be no other way than to go through the courts to divide the common thing.
Division of the common thing in inheritance
The division of the common thing in court implies asking the court to extinguish the condominium. This action can be done through the delivery to each of the parties of their corresponding quota, in case the asset is divisible. If the property is indivisible, the sale will be made and the money obtained will be allocated.
Disagreement between heirs over the value of assets is a very common occurrence in the course of an inheritance.
If you want to avoid family disputes during the processing of your inheritance, call us.