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For commercial enterprises with real estate assets, a distinction is made between the actual business value and the real estate assets contained within it, whereby special inheritance tax relief provisions may apply to operating properties.
Read moreFor inheritance tax purposes, the full, unencumbered market value of the property is first determined. The remaining outstanding debt can then be deducted as an estate liability, provided it actually originates from the deceased.
Read moreIn the event of inheritance, condominium units are valued analogously to houses using the standardized procedures of the Valuation Act (Bewertungsgesetz), usually via the sales comparison approach, provided sufficient comparable data for similar units is available.
Read moreAgricultural and forestry assets are valued according to the separate valuation provisions of the Valuation Act (Bewertungsgesetz), which distinguish between the operating value of the ongoing business and the residential portion of the farmstead, and which in some cases provide for substantial tax relief.
Read moreIn such cases, we prepare a neutral appraisal report that objectively documents and quantifies the actual need for renovation, in order to create a decision-making basis comprehensible to all co-heirs.
Read moreEven where the decedent died abroad, the valuation of a German property is governed by German valuation law. For foreign properties in the estate, however, the valuation principles of the respective country of location apply.
Read moreA notional co-ownership share is generally derived proportionally from the overall value of the property. Since co-ownership shares are only tradable to a limited extent, an additional market discount is sometimes discussed in practice, though it is usually not recognized for tax purposes.
Read moreIf a spouse living in a community of accrued gains passes away, the surviving spouse receives a flat-rate quarter of the estate in addition to the statutory inheritance share as a so-called matrimonial property law equalisation of accrued gains, which reduces the value of the remaining estate.
Read moreRented residential properties benefit from an inheritance tax valuation deduction of ten percent on the determined value (Section 13d ErbStG), provided they are rented for residential purposes and do not belong to business assets.
Read moreIn the event of inheritance, undeveloped plots of land are generally valued based on the current standard land values (Bodenrichtwerte) multiplied by the plot area. Individual particularities such as shape or state of development can additionally be taken into account by means of an appraisal report.
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