Inheriting a home in usufruct is a frequent situation in Spain, mainly to protect the spouse. This figure divides the rights over the property. At Rodríguez Tur Abogados, we explain what the usufruct of an inheritance is, the obligations of the beneficiaries, and the bare owner.
Life usufruct in inheritances
Understanding the binomial between usufruct and bare ownership is essential in successions. Legally, it consists of dividing the faculties of the property. While the usufructuary exercises the use and enjoyment, the bare owner retains the proprietary ownership with the exercise of deferred possession.
The link between inheritance and usufruct allows the widower to keep their home after the death of their spouse. This right ends with the death of the owner, at which time the situation of usufruct inheritance of children is resolved.
Heirs must understand the obligation of the legal possessor to preserve the property. He must be legally responsible for any damage caused by negligence. You might also be interested in: What happens if I don’t pay inheritance taxes?
How to inherit a house with usufruct?
The process of inheriting a home in usufruct begins by accepting it before a notary and verifying the existence of a will. In Spain, in the absence of clear instructions, the legitimate rules of the Civil Code apply.
When deeding, the share of each heir is defined. In general, the spouse receives custody and the children the bare property. This must be recorded in the registry.
How is usufruct taxed in an inheritance?
Managing inheritance taxes with usufruct requires technical precision. To settle them correctly, the right of use must be valued using these keys:
- Rule of 89. The value is obtained by subtracting the age of the holder of the right of use from 89. For example, at 70 years old, applicable possession accounts for 19% of the total ($89 – 70 = $19).
- Legal limits. The valuation always ranges from a minimum of 10% to a maximum of 70%.
- Obligations. Both legal holders and bare owners are taxed on their part. Don’t forget to also pay the municipal capital gains tax.
In the case of the usufruct of spouse inheritance, there are also regional rebates that can reduce the tax burden. An estate tax lawyer can guide you on how to settle an inheritance with usufruct efficiently.
When a property has usufruct, can it be sold?
The owner of the bare property may alienate his right. Similarly, the spouse can sell their right of use. When transferring the property in full ownership, all parties must agree and sign the deed of sale.
The price is divided between owners and usufructuaries according to the value of the current right. Without an agreement, the property is blocked until the proper possession time expires.
It may also happen that one of the parties acquires the share of the other party involved. In these cases, it is advisable to analyze: donate while living or inheriting. Which is better?
How is the money from an inheritance with usufruct distributed?
Not only is real estate affected, but it is also possible to inherit money in bare ownership. In this legal scenario, the distribution is managed under the following premises:
- Right to income. The legal possessor has the power to receive the financial benefits generated by the deposited capital.
- Conservation of assets. The original capital must remain intact, as ownership of the money belongs to the owning nodes.
- The figure of commutation: Due to the complexity of managing these accounts, the widower usually receives a fixed sum in exchange for renouncing their right to the capital.
This agreement must be legally documented to avoid claims between the heirs. In this way, total transparency is guaranteed when inheriting a home in usufruct.
Frequently Asked Questions
No, usually. This right expires upon the death of the owner. It is not transmitted to the heirs, but the consolidation of ownership takes place.
Mainly, the protection of the widower, who maintains the right to remain in his residence without being forced to abandon or sell it.
It generates a co-ownership that can cause family friction due to the payment of expenses. In addition, it limits the free disposal of goods by requiring the consensus of all.
It creates co-ownership that can cause family conflicts over the payment of expenses. Furthermore, it limits the free disposal of assets by requiring everyone’s consent.
Professional Inheritance Management with Rodríguez Tur Abogados
The management of inheriting a home in usufruct requires mastery of civil and tax regulations. At Rodríguez Tur Abogados, we offer the necessary legal support for each heir to understand their position.
An expert inheritance lawyer makes it easier for you to negotiate, guaranteeing efficient asset management that preserves family peace. Seek legal advice to protect your assets.
