Succession
What this is about
Succession is the legal procedure that provides for the transfer of the estate from the deceased to the heirs. According to inheritance law, estate refers to all assets (credits) but also liabilities (debts) that are transmissible at the time of death. There are two types of succession: testamentary, when it is governed by a will, or intestate, when it is governed solely by the law.
The role of the notary
The intervention of the notary is of utmost importance in all cases of inheritance because he:
- assists the successors in the preparation and timely submission of the declaration of succession;
- takes care of registering the heirs as owners of the assets of the deceased at land registry offices;
- formalises the official documents required for the releasing in favour of the heirs of bank or securities accounts held in the name of the deceased;
- takes care of obtaining court authorisation required in case of bequests to minors or incapacitated persons;
- receives deeds relating to the acquisition or rejection of the inheritance.
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