How to Receive an Inheritance

What Is Inheritance and When Is an Estate Opened?

Inheritance constitutes the universal legal succession to the property rights and property-related obligations of a deceased person. In practice, this means that an heir acquires not only the assets of the deceased but also their obligations. For this reason, accepting an inheritance always requires prior legal assessment.

Under the Civil Code of Georgia, an inheritance is opened at the moment of the decedent’s death or on the date when the court declares the person deceased. From this date, all statutory time limits related to the acceptance or renunciation of inheritance, as well as the exercise of inheritance rights, begin to run. Missing these deadlines is one of the most common practical issues and may result in the loss of inheritance rights.

The place of opening of the estate is considered to be the decedent’s last place of residence. If this is unknown, the estate is opened at the location of the inherited property. Upon opening the estate, it is essential to determine the full scope of the inheritance, which includes both assets and liabilities.

Assets include:

• immovable property;

• movable property;

• cash funds and bank accounts;

• claims and receivables;

• equity interests in companies and other property rights.

Liabilities include debts and other obligations. Accordingly, before accepting an inheritance, it is necessary to assess whether the value of the inherited assets exceeds the potential financial liabilities.

Forms of Inheritance Acceptance

The Civil Code of Georgia recognizes two primary legal grounds for inheritance: inheritance by law and inheritance by will.

Inheritance by Law

In cases of inheritance by law, property is distributed according to the statutory order of heirs. First-line heirs include the decedent’s children, spouse, and parents. This rule reflects the legislator’s intention to protect the property interests of the closest family members.

Second-line heirs are the decedent’s siblings, while nieces and nephews inherit only if their parents, who would have been lawful heirs, are deceased. Subsequent lines of heirs include grandparents and their parents, as well as uncles, aunts, and cousins.

It is important to note that heirs of a subsequent line are called to inherit only if heirs of the preceding line do not exist, have renounced the inheritance, or have been excluded from inheritance on statutory grounds.

Inheritance by Will

Inheritance by will is based on the free and individual will of the testator. A will constitutes a unilateral legal transaction, and its validity requires compliance with formal requirements as well as the free and conscious expression of intent.

A will must be made by a legally capable adult who, at the time of execution, is able to understand the significance of their actions. The will must be in written form and signed by the testator. Notarization is not mandatory; however, in practice, it significantly reduces the risk of disputes.

It is important to note that the testator’s children, parents, and spouse are entitled to a mandatory share of the inheritance regardless of the contents of the will. This mandatory share equals one-half of the portion they would have received under inheritance by law. Ignoring this right often becomes grounds for court disputes.

Acceptance, Renunciation, and Registration of Inheritance

An heir must apply to a notary within six months from the opening of the estate and submit a written declaration of acceptance or renunciation of the inheritance. This deadline is decisive—failure to comply often results in the loss of inheritance rights.

Inheritance may be accepted:

• by submitting a notarized declaration; or

• through actual possession, such as managing the property, maintaining it, or fulfilling the decedent’s obligations.

However, the law prohibits disposal of inherited property before the expiration of six months from the opening of the estate.

An heir also has the right to renounce the inheritance. Renunciation must be carried out in notarized form and constitutes an irrevocable legal act.

In cases involving inherited immovable property, registration of ownership with the Public Registry is mandatory. Without registration, the heir cannot sell, donate, or mortgage the property, which in practice often leads to additional legal complications.

Inheritance-related matters often involve not only financial benefit but also significant legal and financial risks. Failure to consider debts, statutory deadlines, or mandatory shares may result in serious consequences for the heir.

Before accepting an inheritance, obtaining professional legal advice is strongly recommended, as it enables informed and legally secure decision-making. Individual assessment is particularly important where the estate includes liabilities or involves multiple heirs.