Absolute acceptance of inheritance
Concept of the absolute acceptance of inheritance
- The absolute acceptance of inheritance refers to an expression of intent not to reject the effect of inheritance.
· If an inheritor effects an absolute acceptance, he shall succeed without limitation to the rights and duties of the inheritee (Article 1025 of the “Civil Act”).
Absolute acceptance by law
- An inheritor will be deemed to have effected an absolute acceptance in any of the following circumstances (Article 1026 of the “Civil Act”):
·If an inheritor has taken an act of disposition with regard to the inherited property (e.g. If an inheritor has sold a real estate property which is an inherited property and transferred the register, if an inheritor has sold shares which is an inherited property, or if an inheritor has paid off his/her debt with the deposit bond which is an inherited property).
·If an inheritor has failed to effect either a qualified acceptance or a renunciation within the period of consideration of the inheritance acceptance, etc.
·If an inheritor, after having effected a qualified acceptance or a renunciation, has concealed or fraudulently consumed, or failed intentionally to enter in the inventory, the inherited property.
Exception to the absolute acceptance by law
- If an inheritor of second priority has accepted an inheritance as the inheritor had renounced his/her inheritance, the inheritance will not be accepted even if the person who had renounced his/her inheritance fraudulently consumes (Article 1027 of the “Civil Act”).