Owning a home abroad, especially if we are talking about a resort state, brings great satisfaction to its owner, yet delivers and a number of concerns. Some of the issues that will likely arise for the property owner: "Who gets the property if with me something happens?" "There will not be any legal problems with my direct heirs?".
In this article, we decided to review the highlights of inheritance of property in Bulgaria. We hope that this information will be useful to our readers.
The way of inheritance
In Bulgaria, as in most countries, there are two ways of inheritance of property, by law and in accord with the will. If the property owner did not leave his will in writing, then the property passes to the heirs in the manner prescribed by law. If a will is made then the entry in the inheritance occurs in harmony with him.
It is worth considering that the presence of a will or its absence, determines, according to the laws of which country will be governed by the order of entry of heirs possession of the property. If a written will, then the document will be governed by the laws of the country in which it is composed. If the will was absent, then, in the case of Bulgarian real estate, foreign heirs will be forced to follow the legal rules of that state.
In accordance with the laws of Bulgaria, there are several queues heirs depending on proximity of kinship. First of heirs includes: spouse and children as well as parents and brothers and sisters. Second level: nephews, uncles and aunts, grandchildren. More distant relatives are on the third level of inheritance. So, in the absence of one, expressing his will document the property will be divided in equal shares depending on proximity of kinship. But even in the case of a written order, the law still provides for the inheritance of the property by close relatives of the deceased (children, spouse).
For registration of inheritance, the applicant must submit the following documents: a death certificate of a relative, proof of relationship (marriage certificate, birth certificate, etc.). Documents are accepted only in Bulgarian language in notarized form.
The tax on inheritance
According to Bulgarian law, the heirs of the first category are exempt from paying inheritance tax on the property. Relatives of the second and third stage pay the tax in that case, if the inherited property is worth more than 250 thousand Bulgarian leva (about $170 thousand). Heirs of the second stage pay tax at a rate of 0.4 to 0.8%, the third – 3,3-6,6%.
Issue whether the will?
If You are satisfied with the statutory order of succession of property, a will be issued not necessarily, although experts still advise to do it. This is, firstly, will serve as an additional confirmation of the rights of the recipient and will protect it from unnecessary problems, when taking possession. Secondly, the testator in the will has the right to choose the country under the laws of which would inherit the property. For example, in the document, you can specify that You want regarding the inheritance of all movable and immovable property was used by the Russian legislation.
If You own a house, apartment or other comfortable property in Bulgaria, it is prudent to think about the will. We have considered only the basic provisions applicable in this field. For a complete picture will require the assistance of a competent lawyer familiar with the intricacies of Bulgarian and Russian legislation.
