
Before selling a property that is part of an inherited community, you must have knowledge of the required documents prior to putting the property up for sale. It is necessary to verify if the person who passed away left a will and what are the assets that are inherited. Here are the necessary documents required in Puerto Rico to sell a property that is part of an inherited community.
1.Declaration or Will: Wills must be registered by the Office of Notary Inspections (ODIN). It must be verified in the court, for this purpose it is requested in the ODIN offices (third floor of the San Juan Court) what is known as “testament denial”. With this document it is known if the deceased left a will or not.
In case he/she did not leave a will, the process to follow would be the Petition for Declaration of Heirs, said petition can be done with a notary attorney or through the Court. (For the declaration of heirs they will require several documents such as the birth and death certificate of the deceased; birth certificate of the heirs and in case of being married, marriage certificate among others).
1.Relief from the Treasury (Relict Estate): The Certificate of Cancellation of Tax Lien also known as the Relict Estate is a form issued by the Treasury Department where a breakdown of the assets of the deceased is made. In order to request this Relief, several documents are necessary, among them the registry description of the properties or real estate, information of bank accounts and cars of which the deceased was the owner.
2.Instancia: This is the document that goes to the Property Registry in case the deceased has left real estate, it specifies who the heirs are and in whose name the property or properties will be registered. This requires a notary lawyer to prepare it.
Therefore, these documents are extremely important for the broker or owner, since, if one of them is not available, the process can take months, and paralyze the sale of the property. Following this same line, in case there is more than one heir, all of them must agree when signing the contract with the real estate broker and then with the sale of the property, since they are considered the owners of the property.
In consideration, Mrs. Sonia Prieto Gonzalez, said “I recommend asking for the information of all the heirs so that the broker or seller communicates directly with each one of them, so that there are no problems eventually”.
We conclude on the importance of reviewing the aforementioned documents, since it will save both the broker and the heirs time and avoid lengthening the process of a sale and be able to complete it successfully.