Susana Zamora
The resignations to inheritances have not stopped growing in recent years. From 11,000 in 2007, the first year in which there are records, to almost 48,000 in 2019. Although there is no official record of the causes that lead to the rejection of these legacies, the experts mostly point to the impossibility of facing debts, many of them mortgages. Accepting an inheritance implies enjoying assets, but also assuming financial burdens that the heirs cannot always afford.
For this reason, it is possible that when it is presumed that the debts are greater than the possible benefits, the inheritance can be accepted for the benefit of inventory (with the inherited assets the debts left by the deceased are settled and with the remaining remainder, if there is something, the heir can enjoy it) or reject it. In case of renouncing it, it must be done expressly and before a notary.
Once the person has died, the heirs can formalize the procedure at any time, because the Civil Code does not establish a term to resign. What it does warn is that it cannot be done until nine days have passed since the death of the deceased. Likewise, it specifically provides that no one can renounce the inheritance of a living person, that is, "without being certain of the death of the person to whom he has to inherit and of his right to inheritance."
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But from there, there is no deadline. However, for tax purposes it is important to resign before the Inheritance and Donation Tax expires, which in Andalusia is six months. In this region, after approving Decree-Law 1/2019, of April 9, direct family members —children, parents, grandchildren and spouses—, that is, those who belong to groups I and II, enjoy a bonus of 99% tax. These heirs would only pay in the event that they inherit more than one million euros.
If the inheritance is renounced once those six months have elapsed, the law will interpret that decision as a donation to the rest of the heirs and, therefore, subject to the corresponding tax. The renunciation of an inheritance made in favor of a specific person, before or after the prescription of the tax, also has a tax burden.
Once the resignation has been made, it is irrevocable; there is no turning back, except if there have been errors or irregularities that make it null (defects in consent) or when an unknown will appears. If the inheritance entails debts or there are creditors on the part of the deceased, any heir is free to refuse to receive what he has left him.
However, there are cases in which this waiver cannot be carried out. It is when something has been done that means the tacit acceptance of the inheritance or supposes a loss for a third party.
Andalusia, Taxation, Inheritance and Donation TaxTrends