Be careful, if you accept it, you could also inherit debts! Here's what you need to know to avoid finding yourself in this situation.
When it comes to inheritance, you must be very careful and consult a notary to ensure that you make the right decision. In addition, be aware that settling an inheritance without following the rules of the saudi-arabia business email list Civil Code could also have consequences that are not only unfortunate, but also costly.
Acceptance
With some exceptions, no one is obliged to accept an inheritance. But if one does, the law provides that the heirs will be liable for the debts of the deceased up to the value of the property they inherit.
To accept the inheritance, it will first be necessary to scrupulously follow all the steps provided for in the Civil Code regarding the liquidation of an inheritance. In particular, carry out the inheritance inventory within the prescribed time limits, publish a notice of closing of the inventory in a newspaper and proceed to register it in the RDPRM (Register of personal, real and movable rights).
An heir is considered to have accepted the succession if no notarized document stating his renunciation is signed. Certain actions or omissions can also result in the acceptance of the succession (see below: Actions to watch out for ). Once the succession has been accepted, it will no longer be possible to change your mind and renounce it! In addition, the heirs will be held personally liable for the debts of the succession beyond the value of the assets they receive, if they have exempted the liquidator from carrying out the inventory.
The waiver
Usually, heirs renounce an estate when it is insolvent, that is, when it has more liabilities (debts) than assets (property). Sometimes the insolvency is obvious, as soon as the estate is opened, but sometimes it will be necessary to wait for the estate inventory before knowing it. The renunciation must be made by notarial deed in minute, or by judicial declaration, within the time limit prescribed by law. It must also be published in the Register of Personal and Movable Real Rights (RDPRM).
The heir has a period of six months from the opening of the succession, that is to say fr