The renunciation of the inheritance is something that an heir can do without implying that the other heirs agree or have to do it as well.
It can be an interesting solution to escape from an inheritance full of debts or one whose taxes are impossible for the heir to pay.
Audacia Abogados analyzes what the rejection of an inheritance entails, what consequences it entails and what it means to accept an inheritance for the benefit of inventory.
Can I renounce an inheritance and what term do I have to do so?
The renunciation of inheritance is a right that you can use regardless of the person from whom you are the heir. The important thing is to formalize the rejection expressly and before a notary.
There is no legally established term, but it must be clear that the inheritance cannot be accepted or renounced before you have the status of heir.
Can I know the debts and benefits of the inheritance before making the decision to resign?
Once you become an heir, and said condition is justified by means of the will or declaration of heirs, you can request all the information related to the assets belonging to the hereditary estate, both rights and obligations, so that you can choose if it suits you best. accept or not.
What happens if only one of the heirs wishes to resign?
The waiver of the inheritance is personal and independent, so each heir decides whether he wants to renounce it or not. Although the resignation is irrevocable, if you resign you cannot regret it later, and wish to accept the inheritance later. Depending on whether you are a forced heir or not and whether there is a will or not, the fact of resigning may mean that the rest of the heirs will have a greater part of the cake.
And if I accept the inheritance, can I repent and give it up later?
No, it is an univocal act and that, according to the doctrine of one's own acts, one cannot go against what one said, therefore, once the inheritance is accepted it is not possible to renounce it .
Can I accept a part of the inheritance and another not?
No. We want to specify that the acceptance cannot be from the interested party. The acceptance implies that you keep everything related to the inheritance, both rights and obligations. That is, in an inheritance you are not allowed to choose which assets you want to keep and which you do not. If you accept the inheritance, you do so with all its consequences, in the same way that if you reject it, you renounce everything.
What does it consist of and when to take advantage of the "acceptance for the benefit of inventory"?
In any inheritance you can take advantage of the acceptance for the benefit of inventory, especially when you suspect that the inheritance may be made up of more debts than assets. To be able to choose this option you have to inform the notary, in order to proceed to carry out an inventory of goods. In this way of accepting the inheritance, the grace is that the heirs will only receive what remains once the debts have been paid, which will be distributed in accordance with the provisions of the will or in equal parts if there is a declaration of heirs.
If I decide to accept the inheritance, what taxes do I have to pay?
Your tax obligation with the Treasury regarding Inheritance Tax arises from the moment you become an heir. You are obliged to comply with the aforementioned liquidation within six months from the date of death of the person who died.
Do I have to be of legal age to receive an inheritance?
Minors can also become heirs, in this case it will be their legal representative who acts on their behalf. Except when they have interests in the inheritance, which would entail a conflict of interest, in which case a judicial defender will have to be appointed through the court. The renunciation of the inheritance when the heir is a minor requires judicial authorization.