Acceptance of an inheritance
In order to acquire the goods and rights that make up the deceased’s estate, first of all, it must be accepted.
This acceptance may be express or implied.
Express acceptance; it can be given in a private document or in a notarial deed.
Tacit acceptance; acceptance is presumed for the performance of acts by the inheritor of the goods granted for their possession.
Ways to accept the inheritance
Pure and simple acceptance; only recommended in those cases in which there is absolute certainty that the debts of the deceased do not exceed the amount of the assets that make up the inheritance. If not, the inheritor would have to respond with his own assets from the debts of the inheritance
Acceptance for the benefit of inventory; it is advisable in those cases in which there is doubt as to whether the debts of the deceased exceed or not the amount of the assets that make up the inheritance. In this case, the inheritor would only be liable for the hereditary debts up to where the value of the goods received by the same reached.
Guidelines to follow for the acceptance of the inheritance
At the time of going to the Notary to carry out the writing of acceptance of the inheritance is necessary that the call to inherit follow the following guidelines:
Have a copy of the death certificate of the deceased, which will be obtained in the Civil Registry of the municipality in which he has deceased.
Request the certificate of last wills, as well as the certificate of coverage insurance for death.
Request an authentic copy of the will. In case there is no testament, the future inheritance must go to the Notary to make the declaration of heirs ab intestato.
Can you repudiate the inheritance?
Yes. The repudiation of inheritance constitutes a declaration by the inheritor where he expressly rejects the inheritance. It must be done judicially or in public deed before a Notary.
The acceptance and repudiation of the inheritance are irrevocable.
Are there deadlines to accept the inheritance?
The only term to take into account is the Inheritance Tax, which is 6 months from the declaration of death.
However, it is worth mentioning that any person that may affect the acceptance or repudiation of the inheritance may require notarially that the call to inherit accepts or repudiates. The call will have a period of 30 days to accept, purely and simply or to benefit inventory, or repudiate the inheritance. If within that period he does not manifest his will, the inheritance will be understood as accepted purely and simply.
We hope this information has been useful and if you need any clarification do not hesitate to contact us