How to calculate inheritance transfer
Succession transfer is the process by which real estate or other property is transferred to heirs through legal or testamentary inheritance after the death of the owner. This process involves many links, including tax calculation, formalities, etc. The following is a compilation of hot topics and hot content on inheritance and transfer in the past 10 days across the Internet to help you fully understand the calculation method of inheritance and transfer.
1. Basic process of inheritance transfer
Inheritance transfer usually includes the following steps:
| steps | content |
|---|---|
| 1. Confirm inheritance rights | Confirm the legal inheritance qualifications of the heir through notarization or court judgment. |
| 2. Apply for inheritance notarization | Heirs need to bring relevant materials (such as death certificates, kinship certificates, etc.) to the notary office for inheritance notarization. |
| 3. Pay relevant taxes and fees | Calculate and pay deed tax, personal income tax, etc. based on property type and regional policies. |
| 4. Handle transfer registration | Bring the notarial certificate and relevant materials to the real estate registration center to handle the transfer procedures. |
2. Calculation of taxes on inheritance and transfer
The taxes and fees involved in inheritance and transfer mainly include deed tax, personal income tax, notary fees, etc. The following is the specific calculation method:
| Tax type | Calculation method | Remarks |
|---|---|---|
| Deed tax | Legal heirs are exempt from tax; non-legal heirs are taxed at 1%-3% | Adjust according to regional policies |
| personal income tax | When the property is sold after inheritance, 20% of the difference will be levied | The only residence that has been used for self-occupation for more than 5 years is exempted from the tax. |
| Notary fees | 0.2%-1% of the value of the inherited property | Notary offices have different standards in different places |
3. Answers to recent hot questions
1.Is inheritance tax payable on inherited property?
China has not yet levied inheritance tax, but inheriting real estate may involve deed tax, personal income tax, etc.
2.How to distribute property inherited by multiple people?
The share can be determined through negotiation or notarization. If negotiation is not possible, a court decision is required.
3.Which is more cost-effective, inheritance transfer or gift transfer?
Inheritance transfer taxes are lower, but only apply after the owner's death; gift transfers are subject to higher deed taxes and personal taxes.
4. Precautions
1. When applying for inheritance notarization, complete proof of kinship relationship must be provided to avoid missing heirs.
2. If you plan to sell the property after inheriting it, you need to pay attention to the conditions for paying personal income tax.
3. Policies in different regions may differ. It is recommended to consult the relevant local departments in advance.
Through the above content, you can clearly understand the calculation method and process of inheritance transfer. For further help, it is recommended to consult a professional lawyer or real estate agency.
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