Registration in the Land Register (Zemesgrāmata)
A certificate of inheritance issued by a notary does not, by itself, mean that you can immediately proceed with the sale. First, you must register ownership of the property in your name in Latvia’s Land Register. This process takes an average of 10–15 days and requires payment of a state fee. Without registration in the Land Register, the buyer’s bank may not approve the transaction, and buyers may be unwilling to take on the associated risks.
Personal Income Tax (IIN – 25.5%)
When selling an apartment, you may be required to pay personal income tax (IIN) at a rate of 25.5% on the difference between the apartment’s acquisition value and its sale price.
If you did not obtain a certified property valuation when formalising the inheritance, the apartment’s cadastral value may be used to determine its acquisition value for tax purposes in certain circumstances. The market value of an apartment – its actual sale price – is generally significantly higher than its cadastral value. If you sell the apartment at market value, the tax of 25.5% on the difference between the cadastral and market values may amount to several thousand euros.
How to Avoid Tax When Selling an Inherited Apartment
Arrange a market valuation of the apartment with a certified property valuer while formalising the inheritance with the notary. Under Latvian law, you may qualify for a tax exemption if the apartment has been your only immovable property for the last 60 months, or if you have owned it for five years and your declared place of residence has been registered there for at least 12 consecutive months.
An important consideration: If you inherited the apartment from your spouse or a relative within the third degree of kinship, the period of ownership by the deceased may, in certain circumstances, be taken into account when determining eligibility for a tax exemption. However, the declared-residence period is not inherited. To qualify for an exemption based on your declared place of residence, you must personally have been declared at the apartment for at least 12 consecutive months within the 60 months preceding the sale.
Utility Debts When Inheriting an Apartment
Along with an inherited apartment, you may also inherit the previous owner’s financial obligations.
Outstanding real estate tax (NĪN) may prevent the change of ownership from being registered in the Land Register. The transaction may not proceed until the outstanding amount has been settled. Utility debts, for example those owed to RNP (Rīgas Namu Pārvaldnieks), can discourage potential buyers, particularly when the purchase is financed by a bank loan.
Renovating and Preparing an Inherited Apartment for Sale
Major or cosmetic renovations before selling an apartment in Riga do not always pay off. It may be sufficient to remove old furniture, dispose of unwanted items and carry out a thorough clean. An empty apartment may sell faster.
How to Sell an Inherited Apartment in Riga Remotely
If you are living abroad, it may be possible to complete the transaction officially and remotely, subject to the applicable requirements.
eParaksts and Smart-ID
If you have an electronic signature (Smart-ID or eParaksts), sale and purchase agreements may be signed remotely within minutes through the DigiNotārs portal.
Important: the basic Smart-ID level is not suitable for the DigiNotārs portal. A fully verified Smart-ID account is required.
Power of Attorney (Pilnvara)
You may be able to arrange a power of attorney for a representative or relative online through the DigiNotārs system, provided the relevant service is available for your transaction.
Urgent Buyout of Inherited Apartments in Riga by Riga Real Pro
To avoid spending months looking for buyers, incurring additional costs and risking a failed transaction, use Riga Real Pro’s fast property buyout service.
Why Choose Riga Real Pro?
- Over 20 years of experience – we buy apartments in Riga using our own funds.
- Fast transactions – we can complete the transaction within 1–3 days.
- Free valuation and purchase offer – within 24 hours of contacting us, you will receive a free apartment valuation, a purchase offer and an advance payment if needed.
- Full payment on the day of the transaction – we transfer the full amount to your bank account immediately after the purchase and sale agreement is signed before a notary.
- We buy apartments in any condition – renovated, unrenovated, undergoing incomplete renovations or in a dilapidated condition, including properties affected by fire or flooding.
- We buy apartments with debts and legal restrictions – including outstanding utility bills, property taxes and properties subject to seizure imposed by a sworn bailiff.
- We cover all transaction-related expenses – including the preparation of the purchase and sale agreement and the fees for legal services, property valuation and notary services.
- We help clear the apartment – we remove old furniture and unwanted belongings ourselves, so you do not need to hire removal services or pay for waste disposal.
- We help you move your belongings – if necessary, we also assist with transporting your personal possessions.
Complete the short form on our website, call us or contact us via WhatsApp. We will assess your property and make you a purchase offer for your apartment in Riga within 24 hours.