Once your relative has passed away, and it becomes clear who inherits and in what shares (see more about it here), the question arises of how to accept the inheritance and whether you may waive it.
How is inheritance accepted?
1. Explicit Acceptance
One of the options for accepting an inheritance is explicitly, through a written statement to the district court in the place where the inheritance is discovered. The statement is entered into a special book of the respective court and cannot be withdrawn.
The heirs who have thus accepted the inheritance shall be liable for the obligations with which it is burdened per the shares they receive.
2. Acceptance by Inventory
Another way to accept the inheritance is by inventory, through a written statement to the district judge within three months of the knowledge that the inheritance has been discovered. This acceptance method is mandatory when the heir is a minor or underage person.
Acceptance in this way is also entered into a special book.
The essence of acceptance by inventory lies in the limited liability of the heir to the creditors towards the inheritance (when the deceased legator had debts) and legatees – up to the amount of the inherited estate received.
Accepting the inheritance by inventory creates certain obligations for the heir:
- Prohibition on alienating movable property for up to 3 years and immovable property for up to 5 years. In case of violation of this prohibition, the limitation of liability to creditors and legatees lapses;
- Obligation to manage the inherited assets with care, as he would towards his own affairs;
- Obligation to give an account to creditors and legatees for the management.
3. Tacit Acceptance of Inheritance through So-called Conclusive Actions
A third possibility for accepting the inheritance is silent, which means without an explicit statement but through some action that implies undoubtedly the heir’s intention to benefit from the inheritance. An example of such acceptance is withdrawing sums from the deceased’s bank account, disposing of his movable or immovable property, etc.
Acceptance also occurs when the heir hides inherited property. In this case, however, the heir loses the right to a share of the inheritance.
Waiver of Inheritance
According to our Inheritance Law, inheritance is a set of property and obligational rights and duties belonging to the deceased at their death.
That is why every heir must be aware that they inherit not only the rights and property of the deceased but duties as well.
In this regard, the heir may accept the inheritance or renounce it. Even in some cases where the duties of the deceased exceed their assets, renunciation is highly recommended.
Renunciation/waiver is made by a written statement to the district court and is entered into a special book.
- The heir may only renounce the entire inheritance, not specific parts of it.
- A renunciation of inheritance made under a condition or certain period, or for a part of the inheritance is invalid.
- The renounced heir’s share enlarges the other heirs’ shares.
At some point in their lives, everyone faces inheritance cases. Often they are specific and require in-depth study and research.
Our team is available for consultation and assistance in inheritance cases. You may contact us via email at contact@legalmasters.bg, by phone at 0893 050 449 or through the office’s Facebook page.
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