For example:

A. This coat of arms belongs to the Spencer family
B. This coat of arms is belonging to the Spencer family

The correct answer is A. Because verbs of ownership are usually stative. (for another example 'He has a cold'. Not 'He is having a cold.' Now try the other sentences.

   The fish is smelling bad.

   The fish smells bad..

   The dog is smelling the rose.

   The dog smells the rose.

   Tar is tasting terribly bitter.

   Tar tastes terribly bitter.

   The city is owning the property marked by this post.

   The city owns the property marked by this post.

   The chef is tasting the sauce.

   The chef tastes the sauce.

   The sack is weighing exactly forty kilograms.

   The sack weighs exactly forty kilograms.