Succession registration procedure is applicable to the heirs who inherited real estate property and wish to transfer the rights to the property to themselves. Registration of a Succession Order in the land registry is intended to regulate the property rights between the heirs of the deceased by order of a Succession Order that is issued by the Succession Registrar. This action is necessary, in order to prevent future problems between the heirs themselves om the issue of a property.
Registration of a property by order according to the Succession Order enshrined in Article 123 (b) (2) of the Real Estate Law, according to the details listed in the order, therefore there is no need to face the Land Registrar. Also, property registration can be carried out even when there is a caveat on the property, but it is important to use a lawyer, who will simplify the procedure and take care of the rights of heirs on the property.
It is important to note that under Article 4 of the Income Tax Law, a succession of real estate right is not considered the real estate sale, and therefore the heirs are not subject to tax debts such as betterment tax or purchase tax. Therefore, it is possible to transfer the ownership of the apartment to the heirs without showing tax certificates. However, this is not a tax exemption on future transactions, such as selling the apartment by the heirs and therefore it is recommended to consult a lawyer for planning.