Real estate inheritance checklist

After a death, the bereaved often not only have to cope with their grief, but also settle a large number of matters. Especially when inheriting a property, relatives should take care of important documents and tasks as quickly as possible.

Determining the estate

• Do you already know what liabilities exist?
• Who is in the land register?
• Are you already in correspondence with banks and insurance companies?
• Have you looked through bank records, bank statements and insurance documents?
• Have contractual partners such as employers, pension funds, insurance companies, landlords or creditors already been informed?
• Please note: Until the final acceptance of the inheritance, you only conduct business on behalf of the estate.

Wills and succession: who inherits the assets?

• Was a notarized will drawn up during your lifetime?
• If so, where is the will?
• Have I already looked in my personal documents to see where a will is?
• If you do not know where it is located: Have you already sent a request to the
• probate court (local court or notary's office)?
• If you are in possession of the will: Have you already filed the will with the probate court?

What is the legal succession if there is no will?

• If no will or document can be found, the assets fall to the surviving dependants according to the compulsory shares.
• Inheritance is based on the degree of kinship; the further away someone is from the deceased, the smaller the share of the remaining assets. Spouses and children are considered first-degree relatives and receive special benefits.

If you are considered an heir, ask yourself whether you want to accept the inheritance or whether you would prefer to disclaim it.

• How large is the estate and what exactly will be inherited?
• Are there any debts?
• Are there any restrictions or conditions attached to the inheritance?
• How much time do they have to decide for or against the inheritance?
• Have I already made appointments with a lawyer so that I can meet the deadlines set?

Have you inherited a property and are still unsure what the best solution for the property is? Get in touch with us! We will be happy to advise you.

Notes

For reasons of better readability, the generic masculine is used in this text. Female and other gender identities are explicitly included where this is necessary for the statement.

Legal notice: This article does not constitute tax or legal advice in individual cases. Please consult a lawyer and/or tax advisor to clarify the facts of your specific individual case.

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