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dal5band
11-11-2007, 11:55 PM
If someone inherits a property, a certain amount of inheritance tax is due (in Spain) and I think the property cannot be transferred to the beneficiary until the tax is paid. If the benficiary has no cash to pay the tax how can the property be sold first ?
This is a real case and there seems to be an impass. - they cannot pay the tax unless they get money from the house but they cannot sell the house until they pay the tax.

19 Nov 07 - IS THERE ANY GENERAL ANSWER TO THIS PROBLEM ?
28 Nov 07 - NO ANSWER TO A FAIRLY SIMPLE QUESTION ?

Expert advisor
11-30-2007, 10:23 AM
First of all, the property can be sold and in addition to this, there is a process which is to ask the Tax Office to arrange the settlement of the inheritance tax. This transaction usually takes 1 to 2 years, being the property the guarantee of that payment although it has been transferred to a 3rd party.
Therefore, you could apply for that settlement to the Tax office, then sell the property and pay the inheritance tax at the same time once you have received the sale price.

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