A death involving immovable property brings a lot with it. What steps must you take, what are your rights as an heir, and when do you need a certified valuation?
The death of a family member brings, alongside grief, a series of practical and legal obligations — certainly where immovable property forms part of the estate.
Step 1: the estate declaration
Within four months of the death, an estate declaration must be filed with the tax authority (VLABEL in Flanders). It lists all of the deceased's assets and liabilities, including property with its estimated value.
What if there are several heirs?
Where there are several heirs, the property has to be divided. That can be done by selling it and dividing the proceeds, by one heir buying out the others, or by leaving it undivided. In every case an accurate valuation is essential to divide fairly.
Why a certified valuation?
VLABEL can contest the value you declare and impose a higher one of its own. A certified valuation by a VLABEL-certified valuer-expert gives you binding certainty and protects you against additional assessments. The valuation is accepted by VLABEL, by the notary and by the court.
Dekoninck Vastgoedexperts guides heirs and notaries through the whole valuation process — quickly, accurately and in a legally watertight way.