How To Sell A Car By Inheritance

Table of contents:

How To Sell A Car By Inheritance
How To Sell A Car By Inheritance

Video: How To Sell A Car By Inheritance

Video: How To Sell A Car By Inheritance
Video: Tips to Selling Your Used Car For a Higher Price Than Expected 2023, December

If you want to sell your inherited car, you will have to complete a number of preliminary formalities. First - to enter into inheritance rights, then register the car in your own name, and then deregister it in connection with the sale and issue this procedure with the new owner. Upon completion of the preliminary steps, the purchase procedure itself does not have any special differences.

How to sell a car by inheritance
How to sell a car by inheritance

It is necessary

  • - certificate of entry into the right of inheritance;
  • - documents for the car from the traffic police, confirming that you are the owner;
  • - 3NDFL declaration, confirmation of all income taxed with personal income tax and its payment for the year, a statement of tax deduction (only if the inherited car has been in your ownership for less than 3 years).


Step 1

The first thing you should take is to go to the notary at the place of residence of the deceased and decide on the entry into the right of inheritance. To do this, you will have to present a document proving your identity, the death certificate of the testator and all evidence of your right to inheritance (for example, kinship) and ownership of the deceased property. In the case of a car, this may be a registration certificate with the name of the deceased as the owner.

The inheritance procedure is very lengthy and cumbersome and requires an average of at least three visits to a notary. It must begin within six months after the death of the testator, otherwise all of his property will go to the state.

Step 2

Upon completion of all formalities with a notary, you must register the car with the traffic police at your place of residence. As a document of title to the car, you present a document from a notary on the right of inheritance. Otherwise, the procedure does not differ from the registration of a car that has passed into ownership on other grounds.

You must provide a standard set of documents, present the car for inspection and pay state fees, in particular, for making changes to the registration certificate.

Step 3

You can deregister the vehicle prior to the sale, but this is optional. It is enough to write out a power of attorney for the completion of this formality by the new owner.

You can sell a car, like any other, through a commission car dealership (including making a deal through it with a buyer you have found yourself) or concluding a sale and purchase agreement, including under a contract in a simple written form, without notarization.

It is better not to consider the option of registering a "sale" by proxy as fraught with considerable problems for both the seller and the buyer.

Step 4

An important point to pay attention to. When you enter the right of inheritance, you do not have to pay tax on the value of the property you received. But its sale is a different deal, and if the car belonged to you for less than three years, you have the obligation to pay personal income tax.

Although you can exercise the right to a tax deduction. With a car price of up to 250 thousand rubles. tax will not have to be paid, but this does not relieve the seller of the obligation to declare all his income taxed with personal income tax for the year in which the car was sold, and attach to the declaration all documents confirming it and paid tax, as well as a statement asking for a property tax deduction.

If you have owned a car for more than 3 years, you do not need to file a declaration or pay tax.