Inheritance services

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Published: 08/14/2018

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The procedure for registering an inheritance, depending on its composition, may include various steps. The presence of expensive property (vehicles or real estate) in the inheritance often requires an assessment of the value of such property.

• Why is the assessment carried out?
• Types of assessment
• Assessment procedure

The cost and procedure for the assessment procedure depends on the type of inherited property and the method of assessment.

Why do you need a property valuation?

Property valuation is carried out, first of all, to calculate the amount of state duty. This is payable to the notary who is handling the inheritance case and issuing a certificate of rights to it. It follows that the procedure is considered mandatory and is required in any case, regardless of the presence or absence of a will.

In certain situations, when the heirs are not able to come to a common decision regarding the fair division of the property of a deceased relative, the results of the assessment will also be useful. An expert's opinion will help resolve numerous disputes. And in general, most successors want to know what the total value of the inherited estate is.

In this case, most often the question of valuation arises when there are many heirs, and the property includes a large number of items and really has a significant value.

If books, dishes, furniture and other small things are offered as an inheritance, then there is no need for this procedure, partly due to the fact that no one turns to a notary in such cases. This means no duty payment is required.

What property is subject to valuation?

The inheritance may include movable and immovable property. The following types of property are subject to assessment:

• private houses.
• apartments in an apartment building.
• land.
• shares in the authorized capital of an economic entity.
• enterprise securities.
• property complexes.
• industrial equipment.
• weapon.

When is an assessment required?

When entering into an inheritance, an assessment is required in the following cases:

• when submitting documents to a notary;
• when submitting documents to the court to establish the fact of acceptance of the inheritance in court;
• in case of litigation with other heirs.

Let's consider whether it is possible to do without an assessment. Citizens exempt from paying fees may not order assessment documents. However, this option is possible if the person entitled to the benefit is the only heir.

In addition, citizens who inherit:

• residential premises in which they lived together with the testator;
• funds on deposits.

It is worth considering separately whether a report is needed when actually accepting an inheritance. The possibility of exemption from paying the duty is provided depending on the identity of the heir or the type of property. The method of accepting the inheritance does not matter. When registering property, the actual heirs undergo a full list of procedures, including assessment (Article 1153 of the Civil Code of the Russian Federation).

Be sure to read it! Letter to the Federal Tax Service regarding the transfer of payment from one KBK to another: sample 2020

The only difference is that the heir contacts the notary at any time. The assessment must be made in advance.

What is subject to assessment

Legislatively, the following objects are subject to the property valuation procedure:

1. real estate, both residential and empty;
2. motor vehicles;
3. equipment, machinery;
4. weapons, ammunition;
5. intellectual property law and copyright;
6. securities;
7. the deceased's business or his share in it.

Other valuables are also subject to assessment, for example, objects of art, jewelry, etc.

Types of assessment

The assessment of the estate can be made taking into account the following types of value:

• Cadastral . Used to evaluate real estate and land. The information is contained in the Cadastral Chamber, where you can send a request.
• Inventory . This is carried out by contacting the Bureau of Technical Inventory (BTI) at the location of the inheritance. This type of assessment is used extremely rarely due to the small number of criteria by which the expert determines the value.
• Market . The most adequate type of assessment, based on the real value of the property at which it can be sold or purchased at a particular moment. In this case, most factors influencing the amount are taken into account.

Despite the fact that some types of assessment are not considered optimal, the successor has the right to present a deed with the results of any of them to the notary. At the same time, the employee of the notary office does not have the opportunity to reject the document. As well as requiring the preparation of an expert opinion of a certain type.

If the heir provides the notary with the results of several types of assessment, the state duty is calculated based on the smaller amount indicated in the documents.

Market value assessment

Valuation of the inheritance in the form of market value for a notary is the most expensive option. Market value refers to the current price of an object at which it can be purchased or sold.

It takes into account the following factors:

• specifications;
• performance characteristics;
• demand;
• offer.

An assessment of market value can be carried out for any property that has a material price (real estate, vehicles, paintings, securities, jewelry, furniture). It is subject to objects that do not have an inventory or cadastral value.

To conduct an event, a citizen must contact a specialized organization that is licensed to conduct a specific type of assessment. When selecting, it is advisable to be guided by the organization’s reputation, customer reviews, and advice from friends.

How the inheritance is assessed:

• the recipient of the property independently or by prior agreement with other heirs selects a company;
• the heir and the organization enter into an agreement to conduct an assessment;
• the customer pays the cost of the work;
• a specialist conducts an assessment;
• The parties draw up a certificate of completion of work.

The contract must include the following information:

• data of the parties;
• characteristics of the object;
• location of the property;
• procedure for providing services;
• deadline for the report;
• price.

The assessment includes the following steps:

• choice of method;
• inspection of the property;
• determination of qualitative and quantitative characteristics;
• market analysis;
• preparing of report.

Attention! The document is transferred to the customer within the period established by the contract. On average, it ranges from 1 to 5 days. The report must include the final market value of the property. The customer provides the document to the notary to determine the state duty.

Who can conduct the assessment

In accordance with the text of Article 333.25 of the Tax Code, the successor has the right to freely choose an independent appraiser. It is also possible to involve government organizations in the process - bodies of Rosreestr and BTI.

The most common type of assessment, which reveals the market value of property, is carried out in companies that have a license permit for such activities. In this case, an independent expert will not only provide accurate results, but will also be as objective as possible in his work.

Algorithm of actions

To obtain information about the value of inherited property, you will need to follow the following steps:

1. Select a licensed appraisal company. It is recommended to check its reputation first.
2. Hand over the documents for the property being valued to the office employee and conclude an agreement for the provision of services. The document indicates the data of the parties, the characteristics of the object being evaluated, the procedure and timing of the procedure, and the cost of the process.
3. Pay for the services of an appraiser.
4. Wait for the assessment results, receive and sign the assessment report.

Having received the expert opinion in hand, the heir is recommended to check it for the following information:

• Date of preparation;
• Document Number;
• grounds for the procedure;
• information about the parties;
• assessment objectives;
• characteristics of the objects of assessment;
• market analysis data;
• a description of the method used to value the property;
• calculation of market value.

It is important that the conclusion has the signatures of all parties, as well as the seal of the appraiser.

What documents will be required

At the stage of drawing up an agreement for the provision of property valuation services, you will need to hand over a package of certain papers to the expert. The standard list includes:

1. Successor's passport.
2. Death certificate of a relative or one who acts as a testator.
3. The original extract from the house register from the place of residence of the deceased.
4. Property documents, depending on the type. For example, a purchase and sale agreement, an extract from the register of shareholders, papers on the right to own property and other papers.
5. Technical documents - cadastral passport, PTS, if we are talking about a car, passport from the BTI and others.
6. Certificate confirming the absence or presence of encumbrances on the inherited property.

The list of documents may expand depending on the type of property. Full information should be requested from the appraisal office immediately before entering into a contractual agreement.

Who evaluates inherited apartments?

There are two types of documents in which appraisers record the value of apartments and other real estate. These are reports on cadastral or market valuation. The heir to the apartment chooses what kind of evidence to submit to the notary.

Typically, in inheritance cases, an extract from the Unified State Register of Real Estate (USRN) is submitted. There, the cadastral value of the apartment already exists: it is determined by order of the state every five years and is regularly updated in the Unified State Register of Real Estate database. The extract itself is usually included in the package of documents for the apartment - along with the purchase and sale agreement, cadastral passport and other papers.

However, the heir may not agree with the value of the apartment established in the register - and, accordingly, the amount of the inheritance duty. This is 0.3% of the total amount for spouses, children, brothers and sisters of the deceased (but up to 100 thousand rubles) and 0.6% for other heirs (but up to a million rubles).

So, if the cadastral value of an apartment as an inheritance is higher than the market value, for example, by 500 thousand rubles, the overpayment of duty will be from 15 thousand. In such cases, ordering an examination of the market value of an apartment is often more profitable.

In addition, accepting an apartment as an inheritance with an assessment at market value is convenient if:

• it is difficult for you to visit the location of the inheritance and collect papers from government agencies;
• there is too little time left until the moment of inheritance (six months after the death of the testator), and there is no time to collect papers for the apartment;
• The condition of the inherited apartment, due to someone else’s fault, worsened even before the heirs took ownership, and this must be proven in court.

When ordering an independent examination, you need to receive a report on the assessment of the value of the inherited apartment in order to assume rights. Not a certificate, not an extract, act or other document. The notary simply will not accept them and will not include them in the inheritance case.

Also, private companies often offer an assessment of an inherited apartment through the Bureau of Technical Inventory (BTI). Such a document will not be legal, because the inventory valuation of apartments and other real estate is taken into account on a residual basis. That is, if it was done at the time of the testator’s death, such a document can be submitted. But, if this is done already when inheriting an apartment, the paper will be considered void.

Cost of assessment

The assessment of the hereditary mass is not carried out free of charge. When contacting government agencies, for example, Rosreestr, you will need to pay a fee of 200 rubles. A document from the BTI will cost 800 rubles.

But the services of a private appraiser will be much more expensive. The amount can vary from 3 to 10 thousand rubles. It all depends on the type of property and the number of experts involved from outside.

Valuation of property transferred by inheritance is mandatory for issuing a certificate of rights of the successor. The procedure can be carried out by contacting government agencies or using the offers of independent companies. In the first case, the price for the service will be significantly lower, but the second option assumes the objectivity of the work and a more accurate identification of the value of the inherited estate.

Real estate valuation for inheritance

Challenging the cadastral value!

A professional, independent valuation of real estate for inheritance, promptly performed by our expert appraisers, is a profitable, fast and reliable way to obtain objective data on the value of inherited property.

The company guarantees customers maximum assessment accuracy and prompt provision of an official report when ordering the following types of services that include assessment:

• real estate for the notary, as well as for the court;
• apartments for inheritance;
• garage for inheritance;
• land for inheritance;
• plot, inheritance of an economic complex;
• summer cottage, inheritance of a share of property;
• dachas for inheritance;
• houses for inheritance;
• apartments, upon inheritance of an unfinished construction project;
• shares of an apartment inherited from a will or by law;
• inheritance (land registered in a lease agreement);
• apartments (registration of inheritance with long-overdue deadlines for taking ownership);
• other real estate objects subject to inclusion in the inheritance mass.

The cost of appraising an apartment: inheritance of real estate objects

Our prices are calculated on the basis of the company’s chosen and successfully practiced economic strategy, aimed at implementing the fundamental principle of the maximum possible availability of services for all social strata of the capital’s population.

Market valuation of real estate: inheritance of residential and commercial properties

Any types of real estate that require inclusion in the inheritance mass are subject to assessment. The result of the independent assessment serves as the official basis for the heirs to receive the estimated amount of state duty for payment when issuing a certificate of ownership of property.

The final cost report has legal properties that allow it to be used as an official document in any government agency, including the court.

At the request of the heirs, the amount of state duty can be calculated based on the following types of value:

• market;
• inventory;
• cadastral

The value is determined on the date of opening of the inheritance procedure (the day of death of the testator).

Issuing a certificate and calculating the amount of state duty is the responsibility of notaries conducting inheritance business. Final reports completed according to all rules and provided by our employees:

• fully meet all legal requirements;
• always contain only objective, reliable information;
• are accepted by all notarial structures in Moscow as a document guaranteeing the legality and objectivity of the amounts of obligatory state payments calculated on its basis.

A competently completed market valuation of an apartment by notaries is used for fair division into shares and payment of monetary compensation to co-heirs in cases provided for by law. This also applies to all other types of inherited property.

Documented
final report: legal justification for the amounts of state duty
If, in order to legally enter into rights, you need to provide officially confirmed information about the real value of the inherited property to the notary office at the place where the case was opened, we are ready to promptly and for a very low fee prepare a report on the objects of interest to you, in which there will be rating given:

• apartments for a notary;
• garage for a notary;
• houses for a notary;
• dachas for a notary;
• land for a notary;
• shares of the apartment (notaries must be provided with the market value of the entire property);
• other residential, commercial, industrial and economic facilities, the price of which is necessary to calculate the amount of state duty.

Documents required to place an order

In order for your order to be accepted, you must have the original documents with you when visiting the company’s office, copies of which we leave for your work. These should include:

• personal information about the customer of the service (identification and contact information);
• confirmation of ownership rights;
• technical documentation with layout;
• basis for performing the service.

consultant

Our specialists are always ready to answer various questions regarding the specifics of valuation activities in the procedures for notarization of inherited rights.

Clients have different questions:

• Does the valuation of an apartment for a notary concern the inheritance of other property included in the estate?
• Is a separate real estate valuation required when registering an inheritance for an industrial complex?
• Is a house appraisal required for inheritance on an unfinished summer cottage?
• Will the old inventory or cadastral valuation of a land plot suit a notary whose inheritance has just been opened?
• Is a real estate valuation necessary upon entering into an inheritance for the only heir who lived with the testator before his death and continues to live in this property?
• In what way can the real estate valuation report prepared be delivered to the notary whose inheritance it is dedicated to?

You can always find detailed answers to these and many other questions that affect the valuation of a land plot, a notary, the inheritance of non-residential premises and many other aspects of the valuation work we carry out for heirs on the pages of this site or during a consultation with our authorized representative.