Waiver and acceptance of the inheritance with benefit of inventory

It is necessary to distinguish whether the person called to the inheritance is in possession of the hereditary assets or not.
To this end, possession of the assets for any reason is considered, therefore including the mere possession, even on a temporary
basis, of both all hereditary assets and only a part of them.
If the person called is already in possession of the inherited assets, then he will have to carry out an inventory of the assets forming
part of the inheritance (also indicating the liabilities) within three months of the opening of the succession, under penalty of loss of
the benefit and the acquisition of quality of pure and simple heir. At this point, if the inventory has been prepared within the
terms, then the person called to inherit will have 40 days to decide whether to accept or not.
Once the inventory has been carried out, the person called to the inheritance will therefore be able to have very clear whether the
inherited liabilities are of a greater amount than the assets, and, therefore, choose to renounce the inheritance, making a
declaration to that effect to a notary or to the Registrar of the Court.
On the other hand, in the event that the person called to the inheritance is not in possession of the inherited assets, he or she can
choose to accept the inheritance with inventory benefit in a much longer time, i.e. within the limitation period of 10 years from
opening of the succession.
With the acceptance with the benefit of an inventory, a destination restriction is created on the assets object of the inheritance:
they are intended to satisfy the creditors of the deceased without these being able to attack the personal assets of the heir. In this
way the beneficiary heir has the right to have full and absolute disposal on the assets acquired by succession but this right is limited
by the destination constraint imposed by law on the separate assets. The heir then becomes the administrator of the estate and
must dispose of it in the interest of the creditors.
When the inventory benefit ends
Only once all the inheritance debts have been paid is the heir free to dispose of the residual amount without being afraid to answer
for what has not been paid to the creditors.
The heir, in order to know when all the hereditary debts have been extinguished, in fact, has up to ten years from the death of the
deceased (which coincides with the ordinary limitation period of the credits) could see new creditors appear who had not been
included. in the inventory. In this case the heir is required to pay according to creditors presenting themselves.
To remedy this inconvenience, the beneficiary heir may have recourse to the insolvency liquidation of the inheritance, which
provides for the establishment of a term for all creditors to specify the credits claimed against the deceased, after which they will
no longer be able to make assert their claims against the heir.