The estate inventory is simply the act of listing all the property of the deceased in order to evaluate the amount of his estate. This inventory is not mandatory but it is better to realize it to reduce conflict, avoid misappropriation of inheritance and not collapse under the possible debts left by the deceased. Following this inventory, the notary may proceed to share shares between the heirs.
Inventory of the estate
Inventory of succession: mandatory or not?
Inventory of the estate used to calculate the heritage mass of the deceased, that is, to assess the amount of movable and immovable property that he possesses. If an inventory is made most of the time, it is not mandatory.
If the deceased possesses property and the heirs do not ask for an inventory, this implies that they accept the estate outright. The pure and simple acceptance of the inheritance means that the heirs accept the inheritance but they also undertake to pay off debts that the deceased could have left in their entirety. The realization of an inventory is mandatory in case of acceptance up to the net assetsthat is, if the heirs accept the inheritance and if they agree to repay the debts up to the amount of the inheritance. In other words, if they inherit 10,000 euros, they agree to repay 10,000 euros of debt and not beyond.
How to establish the estate inventory?
The inventory of the succession is done at the request of the heirs. It is made by a notary, a bailiff or an auctioneer. The application is to be filed in the registry of the court of first instance within 2 months from the declaration of the estate option.
The estate inventory includes the following:
- the list and quality of heirs (search for heirs)
- the description and the value of assets (movable and immovable property, securities and shares, money, receivables) and liabilities (legacies, loans and credits, debts) of the succession
The estate inventory is then registered and published for the benefit of creditors.
To make a succession inventory, count 80 euros before tax plus registration or advertising costs.
After having made an inventory of succession, the notary can proceed to calculate and share shares between the different heirs. This sharing depends on a hierarchy between the heirs defined by the order of the heirs.