Waiver of the right of inheritance: who inherits succession property?
As an heir, you have the right to waive the inheritance. In this case, the inheritance waiver procedure will remove succession consequences in favour of the heirs.
After succession opening, it is possible that one or more heirs refuse their respective share of the succession. This is normally due because heirs do not want to assume the costs and burdens connected to the inheritance share in the event the deceased has left mainly debts and obligations. Then, the heir shall initiate inheritance waiver procedure where, through contractual declaration, he/she confirms that he/she does not want to receive his/her inheritance share.
Inheritance waiver procedure takes place through two possible conducts:
– Signing a notarised act;
– To deposit a waiver declaration before the court with local jurisdiction.
Inheritance waiver procedure shall take place within three months starting from succession opening. It is also possible heirs do not want to waive their inheritance share but, at the same time, they do not want to assume all obligations and debts. In this case, they can accept the inheritance with benefit of inventory. In case of an inheritance acceptance with benefit of inventory, the heir assume all obligation and debts for the value of the inherited shares.