Although we usually associate inheritances with receiving money or properties, this is not always the case, because we inherit both good and bad. That is to say, we can inherit properties and money, but also debts, which makes it not always interesting to accept an inheritance. So, can one renounce an inheritance? Let’s see.

Renouncing an inheritance: can it be done?

We start from the premise that an inheritance encompasses the assets, rights, and obligations of a person that do not extinguish due to their death. Therefore, at the moment a person dies, succession and substitution of the heirs regarding rights and obligations take place.

However, it may happen that there are heirs who have no interest in the assets of the inheritance, which is common if there are more debts than assets and rights or if the tax cost is too high and cannot be afforded. How to manage it?

The Civil Code states that “the acceptance and repudiation of the inheritance are entirely voluntary and free acts.” This means that heirs can accept or renounce the inheritance. And be careful, because once done, it cannot be contested.

How to renounce an inheritance while alive?

As contemplated in civil legislation, “the repudiation of the inheritance must be done before a Notary in a public instrument”. Therefore, to renounce an inheritance within the legal framework, it must be done expressly through a public deed granted before a notary.

What is the deadline?

The truth is that the civil code does not specify a deadline for repudiation, but it does include others. The lack of renunciation or acceptance means a paralysis of the affected person’s assets and obligations. Specifically, it details that: “until nine days after the death of the person whose inheritance is in question, no action can be taken against the heir to accept or repudiate.”

But that is not all, because it is also stated that “any interested party who proves their interest in having the heir accept or repudiate the inheritance may go to the Notary so that they communicate to the called party that they have a period of 30 calendar days to accept purely or simply, or for the benefit of inventory, or to repudiate the inheritance. The notary will also indicate that if they do not express their will within that period, it will be understood that the inheritance is accepted purely and simply.”

Is there a fee for renouncing?

To legally reject an inheritance, it is necessary to formalize a public deed before a notary, but be careful because it cannot be done through a private document. It is a procedure that costs about 100 euros, so indeed, there would be a fee to reject an inheritance.

Important information

• An inheritance that has already been accepted cannot be rejected
• An inheritance from someone who has not died cannot be rejected
• Partial renunciation of the inheritance is not contemplated, it is all or nothing
• In pure and simple renunciation, no inheritance tax is paid
• In the transfer resignation in favor of another person, if it is resigned for a price, it would be necessary to pay the tax on Onerous Property Transfers and Documented Legal Acts. In the case of a free resignation, it is a case of donation and the corresponding tax would need to be paid.

In what cases might it be worth rejecting?

There are times when it is more advantageous to reject than to accept. This especially happens when:

• The cost of accepting the inheritance is high and there is no money available
• There are more debts than benefits

Obviously, if the debts are greater, it is not worth it because no one wants to be worse off than they already are. In the case of an expensive inheritance, one could negotiate to ask for a loan and pay it back upon receiving the inheritance. It’s a matter of doing the math and seeing if it compensates, which, mind you, it might. Therefore, it is essential to seek that financing.

> Always seek advice

The key is to seek financial and/or legal advice based on each case, so that you can make the best possible decision.

Remember that it is not always what it seems, because there are investments that are worth it, such as the example of properties. There are homes that may be in ruins today and worth nothing, but they can be given a second life with a renovation or even put on the tourist rental market. There are more and more options.

In any case, it is important to be advised by experts to make the best decisions and not regret it. This is how the best decisions are made, with information from professionals to know what to do at all times and take the right path.

Do you have any doubts left? In what cases would you reject an inheritance? Remember that you can ask us your questions.