Disclaimer of Inheritance
The disclaimer of inheritance occurs when a person entitled to inherit declares that they do not accept the inheritance after the death of the testator.
Disclaimer of Inheritance
The disclaimer of inheritance pursuant to §805 ABGB is also known as a negative declaration of acceptance of inheritance and means that someone consciously waives an inheritance, although he or she would actually inherit according to the law or the will. Many people confuse the disclaimer of inheritance with the waiver of inheritance. However, the waiver of inheritance is an independent legal term for a contract between two living persons, whereas the disclaimer of inheritance is only possible after the death of the testator.
Reasons for Disclaiming an Inheritance
A disclaimer of inheritance is particularly relevant in the following cases:
- The deceased had debts (for example, loans, outstanding bills, or other obligations).
- Family or personal reasons, if one wants to distance oneself from the inheritance.
Sebastian RiedlmairHarlander & Partner Attorneys „Bevor man ein Erbe ausschlägt, sollte man genau wissen, worauf man verzichtet. Eine Schätzung und Inventarisierung des Nachlasses hilft dabei, Schulden, Vermögenswerte und Risiken richtig einzuschätzen.
“
It is not disadvantageous to declare the disclaimer of inheritance at a later point in time. The disclaimer of inheritance is only advisable if you want nothing to do with the inheritance. A conditional declaration of acceptance of inheritance is usually better suited to protect someone from debts of the inheritance.
Select Your Preferred Appointment Now:Free initial consultationFormal Requirements
The disclaimer of inheritance must be formally executed, and can be submitted by yourself or through legal representation
- To the responsible notary (who conducts the probate proceedings)
- Or at the district court (probate court)
It’s also interesting to note the possibility of submitting the disclaimer at a court in the state of residence.
What are the Consequences of Disclaiming an Inheritance
Those who disclaim the inheritance:
- Receive nothing from the estate (neither money nor objects)
- Are not liable for debts of the deceased
- Lose all rights and obligations related to the inheritance
The inheritance then passes to the next person in the line of succession (for example, siblings, children, or other relatives). Many cannot correctly estimate the asset values, as financial matters are often not discussed. Therefore, one should be aware that as soon as the disclaimer is declared, one also renounces an unknown value from the estate.
Deadlines
In Austria, there is no deadline, however, the responsible notary can impose a deadline of at least 4 weeks on an heir.
In contrast, in Germany you have a deadline of 6 weeks to observe. If the deadline is exceeded in Germany, the inheritance is automatically accepted.
Costs
Beforehand, one should be aware that with the disclaimer of inheritance, one waives their inheritance, which also means that one waives a possible profit and it is therefore often advantageous to submit a conditional declaration of acceptance of inheritance instead of the disclaimer.
The disclaimer of inheritance in Austria is not free, but the actual costs are usually reasonable. How much you have to pay exactly depends on where and how you declare the disclaimer:
1. Disclaimer at the Notary (in Probate Proceedings)
In most cases, the disclaimer of inheritance is made directly with the notary who conducts the probate proceedings.
The costs for this are usually a few hundred euros, but can vary somewhat depending on the effort involved.
2. Disclaimer at the District Court
You can also submit the disclaimer of inheritance directly to the court.
This can be somewhat cheaper, mostly a small flat fee is charged, possibly in addition to notary costs for a certified signature.
3. Costs for Legal Assistance (Optional, but Advisable)
If you want legal help, you can hire a lawyer. This is particularly advisable if you are unclear about the financial situation of the testator. As you might be renouncing assets that you were not even aware of.
Revocation of the Disclaimer of Inheritance
Once a disclaimer of inheritance has been submitted, it can no longer be revoked and you have no more claim to the inheritance.
