You inherited a forest: 7 steps before selling

A large share of the forests we buy are inherited. The owners live in Vilnius, Klaipėda or abroad, while the forest stayed in their grandparents’ region. Here is what to do, in order, so you do not wear yourself out or lose money.

1. Formalise the inheritance

Within 3 months of the death you must apply to the notary of the deceased’s last place of residence and accept the inheritance. A missed deadline can still be restored, but it takes longer. The notary issues a certificate of inheritance, which must be registered at the Register Centre. Only then are you the owner and able to sell.

2. Check what is registered

Order a Register Centre extract. Check the area, purpose, and whether there are mortgages, seizures or easements. It often turns out that the plot is smaller than the family thought, or that part of it is agricultural land.

3. Identify the co-owners

If several people inherited the forest, each holds an ideal share, for example 1/3. Selling the whole plot requires everyone’s agreement, and if you sell only your share the other co-owners have a pre-emption right. It is most practical to agree and sell together: the price is higher and the procedure simpler.

4. Visit, or ask us to inspect

An inspection shows whether the forest was harvested without your knowledge, whether there is windthrow, and whether there is access. If you live far away, we can inspect and send photos. It is free and carries no obligation.

5. Learn the forest group and restrictions

On the State Forest Service map you can see the forest group by cadastral number. The value of a group II or protected-area forest lies mostly in the land, while a mature group IV pine stand can be worth tens of thousands of euros.

6. Consider the taxes

Inheritance from close relatives is exempt from inheritance tax. Selling inherited real estate earlier than 10 years after acquisition (inheritance) may attract personal income tax on the difference between the sale price and the acquisition value, which for inherited property is set by a valuation. It is worth checking this with the State Tax Inspectorate.

7. Get several offers and compare

Approach two or three buyers. Compare not only the sum but also when and how payment is made, who pays the notary and whether there are penalties. An honest buyer will put the offer in writing and will not rush you.