Frequently Asked Questions

What is the procedure for passing on an inheritance?

It is not until a person dies that the process of inheritance transfer can begin. The first thing to do is to check if the deceased person prepared a Will. If he or she did not leave a Will, then a "Declaration of Inheritance" must be filed with the court. In addition, it is necessary to file a "Inheritance Estate Form" with the Department of Finance when there is a property that exceeds a certain amount. For more details, go to this link on Inheritance Transfer.

What is the Inheritance Estate Form?

The Inheritance Estate Form, whose full name is "Inheritance Estate Tax Form", is also known as the "Inheritance Form". This form is filed with the Treasury Department, reporting the assets and debts of the deceased at the date of death. The purpose is for the government to verify if there are any taxes or contributions to be paid. In most cases, there are no taxes applicable unless the assets left are substantial. However, it is important that in order to process such a return, the deceased must not have left any tax debts or debts to the Municipal Revenue Collection Center (CRIM).

Once the Hacienda evaluates the form, it then issues a Certification of Lien, better known as a "Relevo de Hacienda". This Relief is necessary so that the heirs can register the property in their name in the Property Registry. In addition, it is also a requirement for any transaction, including the sale or refinancing of property. In turn, the form is indispensable for transferring bank accounts and any other property, including motor vehicles.

Who should submit the Inheritance Estate Form?

It is up to the heirs to file the Form, if necessary. The Form must be filed in relation to those deceased who had property and were residents of Puerto Rico at the time of death. Also, those non-residents of Puerto Rico who, at the time of death, had property located here.

The form can be filed by the lawyer or by the accountant of one of the heirs. Due to the complexity of all these matters, it is advisable that you hire a professional who is dedicated to this type of procedure. Otherwise, you run the risk that due to ignorance or negligence, mistakes will be made that will later imply extra time and expense in trying to correct them.

At Abogado Notario Online, we are dedicated to resolving these types of issues. For an estimate, or more information, you should fill out the form below.

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