All about wills, inheritances, and successions

All about wills, inheritances, and successions(acceptation succession)

The status of the heir is unique and cannot be transmitted. But can I sell my inheritance before I have received it? Yes. A person who is going to inherit the estate of a deceased person can sell the rights to that inheritance to whomever he wishes. And it would sell all the assets and patrimony to which it is entitled. However, there are notable points.

Too many times, it is estimated that it is possible to sell a future inheritance when a person is not yet deceased. This is illegal. The only way to sell the rights of the heir - and with it the assets left in inheritance - is that the owner has previously died. Only in this way can an inheritance be sold. If the testator still lives, a transfer of these rights would be null.

It is not possible to sell the right to an inheritance only with the written will before the person who leaves his estate must die.

Why can a person decide to sell their inheritance? Above all, in advance. If you need the money quickly or don't want to get involved in the inheritance, when the person dies and there is an inheritance, the heirs can sell their part. This way, you don't have to wait to receive the goods and you can get the money as quickly as possible.

If the inheritance rights are sold, the buyer will only obtain them when the inheritance has been definitively transferred. And not before.

How to convey inheritance rights
If a person wishes to carry out an inheritance purchase-sale operation, the person offering it will transmit all his rights. It is not possible to sell a part of the inheritance that corresponds to the seller, since he transfers his right to the goods that he will receive in the inheritance.

These rights can be donated in exchange for a price or consideration. However, a person can sell their inheritance rights, but that does not mean that they can offer a full inheritance if there are other heirs.

Let's put the case that they are three equal heirs. In this situation, if one of them sells his inheritance rights, the buyer will be entitled to receive 33% of the inheritance, since the other two parties will belong to those who have not sold. Although the buyer can buy each part separately from all the heirs.

If there is real estate property -the usual in an inheritance-, to sell the inheritance it will be necessary to carry out a public deed of said property.

But it must be remembered that the heir will continue to be an heir and his condition cannot be put up for sale. It only offers the goods that you will receive in the inheritance. What does this mean? Basically, that personal property will not be transferred to the buyer. And if the inheritance is denied because he has been disinherited, for example, the buyer will not receive his inheritance rights, in order to have to be financially compensated by the heir.

Also, the buyer will have to take care of debits and credits that are left in inheritance, so he will have to have them calculated at the time of the sale.

Without a doubt, selling or buying inheritance rights is a complicated mechanism that needs to be dealt with by professionals, such as Testament team of lawyers.