Valuation of property upon entry into inheritance, valuation of inherited property

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Receiving an inheritance is not only an increase in existing property, but also certain expenses. Among them is the payment of a state duty, the amount of which is directly proportional to the value of the valuables left by the deceased. It is for its calculation that all inherited property is assessed.

In order to become the legal owner of the testator’s property and dispose of it at your own discretion, you must fully comply with the following algorithm of actions:

Contact a notary with an application to accept the inheritance.
Collect a package of documents proving the identity of the heir; confirming the fact of death of the owner of the goods left behind; denoting property that is included in the inheritance mass.
Pay the state fee.
Obtain a certificate of inheritance.

At the stage of paying the state duty, it is impossible to do without determining the volume of the property mass in monetary terms , since the amount of the obligatory payment is calculated as follows (Article 333.24, paragraph 22 of the Tax Code of the Russian Federation):

when inherited by parents, children, siblings, husband or wife - 0.3% of the value of the property, but not more than 100 thousand rubles;
when inherited by other persons - 0.6% of the value of the property, but not more than 1 million rubles.

When calculating, it should be taken into account that some groups of citizens may be exempt from payment or have benefits, but this does not eliminate the need for an assessment.

The value of the property must be reflected in an official document. The following are subject to assessment:

real estate objects (for example, a house, a dacha, an apartment, a share in private property);
transport;
owned equipment and devices;
monetary documents in the form of shares, bonds, bills and other securities;
objects of art and other valuables.

It will not be possible to independently evaluate the inheritance, since according to the law this is done by government agencies or authorized organizations.

Who should order an assessment of inherited property?

A high-quality assessment of property is necessary not only to determine the state duty, but also for a fair division between heirs, as well as proof of correctness in court.

If the distribution of property occurs in order of priority, then the persons called to inherit must provide information about its price.

When inheriting in accordance with a will, the persons specified in the document will have to issue a certificate of valuation.

If one of the relatives considers the division unfair, he has the right to go to court, but he will also have to evaluate the property and provide the relevant documents to the judge.

The assessment must be carried out within 6 months from the date of opening of the inheritance. This period is provided to the heirs to prepare documents.

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).

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

Where to go to assess the inheritance

The place where the value report is issued depends on the type of inherited property. It could be:

technical inventory bureau (evaluates residential premises, garages);
cadastral chamber - evaluates not only housing, but also land;
registration chamber - provides information on the price of a land plot;
forensic organizations - determine the cost of cars and trucks;
independent organizations operating under license.

The issued report contains a detailed description of the object, the purpose of the assessment and methods, and information about the competent appraiser.

The date of assessment must coincide with the date of death of the testator.

Before applying, you must prepare a package of documents.

Comparative approach to assessment

In another way, this method is called market and is applied mainly to real estate.

It is a set of methods for estimating the final price, based on a step-by-step comparison of the valuation object with its taxes on the market, which have information about the cost of transactions with them.

The developed real estate market became the starting prerequisite for the subsequent application of the comparative approach in legal practice.

At the same time, assessment specialists are guided by several principles:

supply and demand, since there is a relationship between limited supply and the need for a property;
substitution, which states that the buyer will not pay more for the property than the market price.

Documents for assessment

The number of documents will depend on what is being assessed. This includes:

heir's passport;
documents for inherited property confirming ownership (purchase and sale agreement, registration certificate);
technical documentation;
information about encumbrances;
a certificate confirming the absence of debt;
documents on shared participation in construction (if available).

If securities are subject to evaluation, a report is drawn up that includes a description of the state of the securities market, an analysis of the financial condition of the issuer, and calculation of the market value of the securities. As attachments, the report contains a photocopy of the organization's charter, documents on the number of share issues; financial statements for 3-5 years; the results of the audit report; information about assets, accounts payable and receivable; strategic plan for the development of the enterprise.

The testator has the right to obtain information about the price of the inheritance from several sources: government agencies, private organizations or from an independent appraiser.

If the property is located on the territory of another state, then the assessment is made at the location of the object by authorized persons of the same country.

Income approach to valuation

This type of approach to valuation is currently used in real estate and is the most popular, since it does not provoke problems with finding calculations of initial information and is essentially universal, because any property generates income.

Lawyers conducting valuations using this method use two methods - direct capitalization and discounted cash flows.

These methods are based on determining the value of real estate by establishing current income and income that will be received in the future from this property, and the final price of the property will be fixed by agreement between the heirs.

Types of real estate valuation

To pay the state fee, the heir can choose one of 3 costs:

inventory,
cadastral,
market

It is more profitable to pay for the smallest amount, and there are no obstacles to this from the state.

Inventory value

You can obtain a certificate of the inventory value of an object from the BTI. It is enough to contact the government agency with the appropriate application and passport.

The inventory value is underestimated in comparison with the cadastral and market values. When calculating it, the area of housing (residential and non-residential), the operating time of the facility, and the availability of amenities (communications, gas, water supply) are taken into account. However, other factors that influence the real price of real estate are not taken into account: location, availability of infrastructure, distance from the center, environmental attractiveness and other characteristics.

Thanks to inventory value, one can judge the physical condition of an object without taking into account market demand.

The letter of the Ministry of Finance No. 03-05-06-03-03/11709 dated March 18, 2014 states that the inventory value can be used to calculate the state duty for obtaining the right to inheritance. Its complete abolition is planned for the end of 2020.

Cadastral value

When selling an apartment, land or house, the cadastral value is most often used. Unlike the inventory, its formation is influenced by the following indicators:

volume of areas;
the material from which the building or house is constructed;
year of construction;
availability of amenities;
remoteness from infrastructure facilities;
economic and political situation in the region;
prestige and safety of the area.

Its establishment is regulated by two laws: until 01/01/2017 – the Federal Law “On Valuation Activities”, and from 01/01/2017 – the Federal Law “On State Cadastral Valuation”. It is expected that from 2021 only budget organizations will be able to establish cadastral values.

To find out the cadastral value of an object, you need to contact Rosreestr, the territorial body of the cadastral chamber, the MFC, or order a document on the State Services portal online.

To determine the cadastral value, you need to know the cadastral number and address of the object of interest. The certificate will be issued within 5 working days.

Market price

Determining the market price depends on the demand for the inherited property in the real estate market. The indicator is the most accurate, but its use is not always beneficial when calculating state duty.

Market value when resolving inheritance issues is relevant not only in relation to real estate. Various items included in the estate are also recorded at market price.

You can obtain a conclusion indicating the market value from an independent company that has the appropriate license. The expert examines the property, evaluates it from the point of view of competitiveness, reports the results, provides a report on the work performed indicating the price of the property.

Why is the value of property calculated?

The calculation of the value of the most significant and valuable property is carried out primarily to determine the amount of state duty that the heir to the property is obliged to pay. This calculation is also needed to resolve disputes between heirs, if any arise.

What is a property valuation?

The calculation of the value of property is linked to a date - this is the day of the owner’s death. There are several types of property value:

market;
inventory;
cadastral;
other (nominal).

Any result based on one or more assessment options can be submitted to a notary’s office and taken as the basis for calculating the state duty. Property assessments are carried out by government agencies (including the BTI), as well as independent appraiser companies with the appropriate license.

So, the estimated value of a car, apartment, or land is a document that is a report from an independent appraiser company or a certificate from a government agency (for example, BTI).

An example of calculating state duty when inheriting an apartment

After the death of the mother, the apartment remained. Before her death, the woman made a will, according to which 1/4 of the apartment was transferred to the deceased’s partner, and 3/4 to her own daughter. The market value of the apartment is 1,750 thousand rubles. The amount of state duty for my daughter was 3937.5 rubles. (1,750,000 x 0.75 x 0.3%), and for a cohabitant - 2,625 rubles. (1750000x0.25x0.6%).

After paying the state fee established on the basis of any of the values, the heir provides a receipt to the notary and receives a certificate of the right to inheritance.

It often happens that in pursuit of a lower assessed value, heirs resort to tricks, trying to deliberately lower it. It would seem, why doesn’t the appraiser want to write what he is told? It should be understood that indicating an unreasonable price is a violation of the law. The obtained result is compared with market prices. A significant difference will be the basis for distrust of the specialist. The appraiser bears property liability in the event of damage, which means he may lose not only his job, but also the benefits acquired through his own labor.

To minimize costs legally, it is recommended to conduct an assessment with the involvement of government and independent experts. If you have any questions, you can consult the lawyers of the website ros-nasledstvo.ru for free. The information obtained will allow you to competently and quickly assess the hereditary mass.

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Who has the right to evaluate property?

Only appraisers - lawyers specially trained to solve this type of problem - have the legal right to evaluate inherited property.

Since the valuation of an inheritance is a difficult process, not without potential legal errors, only those legal appraisers whose qualifications meet the requirements of the Law “ On Valuation Activities in the Russian Federation”

According to it, a qualified appraiser will be a member of a self-regulatory non-profit organization of appraisers who has confirmed his liability with insurance in accordance with the requirements of current legislation.

In this case, the appraiser must have a higher legal education, have no criminal record, and regularly take advanced training courses.

Refusal of share

According to the law, heirs have the right to independently decide whether to accept the property and obligations of the testator or formalize a refusal. If a person decides not to inherit, the division of property becomes significantly more complicated. The heir is not obliged to indicate in favor of whom he renounces the share.

In this situation, part of the property will go to the persons next in line of inheritance. The situation becomes more complicated if a person who does not know the other owners or is not on good terms with them takes part in the division of the inherited property.

Next steps after assessment

They depend on how the spouses divide the common property: by mutual agreement or in court.

If the participants in the marriage plan to divorce without involving the courts, then the procedure after receiving the report will be as follows:

With the report and documents for the disputed assets, both spouses must go to a notary, where they together draw up an agreement on the division of property based on the expert’s assessment presented in the report.
Pay the notary the price for services established by the Tax Code.
Receive a certified document in hand, which will have the force of a writ of execution for bailiffs if in the future one of the former spouses decides not to obey the agreements specified in it.

If spouses resolve a dispute between them in court, the procedure in this case is as follows:

Since the assessment was initiated by the court, the appraiser transfers the result of the work directly to the judge hearing the case on the division of property.
During the court hearing, the judge gets acquainted with the specialist’s conclusions and, based on them, makes a decision on the shares into which the assets must be divided, or on the impossibility of dividing the property. In the second case, the judge decides the amount of compensation paid to one of the spouses.
Having completed the proceedings of the case, the judicial authority makes a decision, which confirms the fact of division of property between the former participants of the family union.

Additional features

The division of inherited property is associated with a number of features. So, if you believe that the will was drawn up incorrectly, you can challenge it. Similar rules apply when the document is prepared under the influence of third parties or while the testator is in an inadequate state. Our lawyers specialize in contesting wills. After they defend your rights and achieve justice, the division of the inherited property will take place according to the law.

In practice, the testator can prepare several wills at once or adjust a previously executed document. If one of the documents is declared invalid, the previous version comes into force, and the division of the inherited property will be carried out taking into account the old version of the document.

What documents are issued by hand?

The specialist draws up the assessment conclusions in the form of a report, which contains the following information:

The date this document was produced.
His number.
Basis for performing appraisal work.
Information about the specialist or the organization in which he works.
The purpose of completing the ordered work.
Description of the asset that was assessed.
Standards and methodology used by the expert.
Sequence of steps to determine the value of the subject of assessment.
List of official papers used by the specialist.

When you receive the report in your hands, you should make sure that it is bound and has the expert’s signature and seal. In addition, the document must have numbering on each page.

For a notary certifying an agreement providing for the division of property between a wife and husband, or for a court hearing a case regarding the division of marital assets, this document has the force of written evidence. They must be guided by it when making decisions.

A sample assessment report can be found by following this link.

Order of heirs

The legislation distinguishes 7 lines of inheritance. Initially, distribution occurs within the framework of the first priority. If there are no heirs at this stage, the right passes to the next relatives.

Conventionally, there is an additional 8th level – the state. It participates in inheritance if the testator has no relatives left, or none of them expressed a desire and did not contact the notary within the prescribed period. Objects transferred to the state are called escheat.

Obligatory heir

There are compulsory heirs. This category includes persons dependent on the testator. These are usually disabled dependents. In order for a citizen to receive a mandatory share in the inheritance, the following conditions must be met:

The person is one of the obligatory heirs and is dependent on the testator for at least 1 year until the death of the testator;
The person was declared incapacitated for work 1 year or more before the death of the testator, and was also dependent on him for 12 months. In this case, kinship is not taken into account. Dependents inherit equally with relatives of the 1st category;
The applicant is a minor child of the testator, his disabled spouse, or a dependent parent. Citizens included in the above category claim a mandatory share. It is 50% of the share they would have received in the absence of a will.

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