My father passed away and I am to inherit land. How should the land inheritance procedure be carried out?

The land inheritance procedure proceeds in the stages of an agreement on the division of property among the heirs, the reporting and payment of acquisition tax, and the application for registration of ownership transfer.

First, after the death of the decedent, all the heirs gather to prepare a written agreement on the division of the inherited property, and must clearly determine the person to whom the land belongs and the shares.

The agreement must accurately state the heirs' personal details and the identification of the land concerned, and a seal impression and a certificate of seal registration are usually required.

Thereafter, the acquisition tax must be reported to the competent local government within six months from the last day of the month in which the date of death falls.

If you submit, together with the acquisition tax return, the written agreement on the division of inherited property, the decedent's basic certificate, a family relation certificate, and the like, and have the tax amount determined and pay it, you will be issued a certificate of acquisition tax payment.

In the next stage, you prepare registration-related documents such as the land ledger, purchase national housing bonds, and pay the stamp tax and the registration application fee.

Once all preparations are complete, you submit the application for registration of ownership transfer and the required documents to the competent registry office, and upon completion of registration, a certificate of registered title is issued.

Accurately carrying out this order is the key to the land inheritance procedure, and in particular, since additional tax may be imposed during the land inheritance if the acquisition tax filing deadline is exceeded, managing the timeline is necessary.