How to apply for inheritance renunciation and documents | Memorandum | Declaration form | What is limited approval? | period | Procedure | Report deadline 2023
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How to apply for inheritance renunciation and documents | Memorandum | Declaration form | What is limited approval? | period | Procedure | Report deadline 2023
How to apply for inheritance renunciation and documents | Memorandum | Declaration form | What is limited approval? | period | Procedure | Let’s find out about the 2023 deadline.
Before applying for inheritance renunciation, there may be people who are curious about what inheritance renunciation is, and there may be people who do not know exactly what this means.
Inheritance renunciation means that the heir renounces inheritance of property and debts after examining the debts of the decedent and when the debts are more than the inheritable property. Inheritance does not simply mean the property you have, but also the obligation to repay debts by inheriting them.
Today, we will talk about how to apply for inheritance renunciation, documents, period, and procedures.
Application for renunciation of inheritance
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How to apply for inheritance renunciation and documents
Application for renunciation of inheritance
Prior to applying for inheritance renunciation, if you find out that there is a debt that is a debt in the property that the heir had, you must proceed with the inheritance renunciation or limited acceptance procedure. You must apply at the family court within 3 months from the date you learn that there is an inheritance.
At this time, in the application for inheritance renunciation documents, personal information such as the name or birthday of the person concerned must be filled out, and the relationship with the heir and the reason for giving up must be filled out in detail and accurately.
In addition to the application form, an abstract of the family relation certificate, which is a basic certificate, is required, and documents related to the heir’s seal and property must be prepared. If there are multiple heirs, each must be issued and prepared.
If it is difficult to fill out the paperwork or if you are experiencing legal difficulties in the process, it is good to seek help from a legal representative.
👇 Supreme Court, check below for more information!
Inheritance waiver application memorandum
Application for renunciation of inheritance
In the case of a Memorandum of Application for Renunciation of Inheritance, although it is a document prepared to express the intention not to receive inheritance, it is not a legal term and is not a legal system, so it may not have legal effect as it is written in the Memorandum.
However, the reason for writing a memorandum of renunciation of inheritance is to avoid inheriting debt, to distribute inherited property, or to bestow inherited property only to a specific person.
In the case of a memorandum written before the deceased’s death, it is said that it is invalid even if it is notarized or there is a witness.
Since the effect of a waiver may not be recognized just by writing a memorandum of renunciation of inheritance, you must proceed with an application for renunciation of inheritance to the court.
👇 Seoul Family Court, check below for more information!
Inheritance Abandonment Report Form
In the case of an inheritance renunciation report, you can visit the electronic civil service center, find the form, download it, and fill it out.
In addition, when applying for inheritance renunciation, the number of claimants X 5,000 won must be attached to the bill, and the delivery fee must be paid to the bank handling the delivery charge, and the receipt must be attached.
If one of the co-heirs submits an inheritance renunciation report (limited acceptance report), a power of attorney from the remaining heirs is required.
👇 Frequently asked questions and detailed information below!
What is limited approval for application for inheritance renunciation?
Unlike inheritance renunciation, which renounces everything, limited acceptance means inheriting the ancestor’s property only conditionally and then paying off debts within the scope of this property.
For example, if the ancestor proceeds with limited approval for an apartment with a market value of 300 million won and a debt of 700 million won, after inheriting the apartment, after repaying 300 million won out of the debt of 700 million won, the remaining 400 million won We are not responsible for reimbursement for Won.
In the case of an application for renunciation of inheritance, it can be handled relatively simply by preparing and submitting only the documents for renunciation of inheritance. And if time passes and a decision on limited approval is made, it is necessary to deal with it again through dividends or bankruptcy of inherited property.
👇 Suwon Family Court, check below for more information!
Inheritance renunciation application period and procedure Report deadline 2023
The deadline for renunciation of inheritance must be applied directly to the Family Court of the deceased’s last address (place of inheritance) within three months from the date on which he or she became aware of the commencement of inheritance. In the case of an heir of the first rank, the date on which he or she becomes aware of the commencement of inheritance is regarded as the date of death of the deceased.
In the special case of first-order heirs, who have been living out of contact for a long period of time, the claim is due within three months of learning of the death of the deceased and knowing that he or she is the heir.
In the case of the second-order heir, the claim is due within three months when the first-order heir receives a judgment on the renunciation of inheritance or when he or she becomes aware of the death of the deceased and thereby becomes the heir.
👇 Electronic Civil Service Center, check below for more information!
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Frequently Asked Questions
1. What are the conditions for special approval?
See the main text for details.
2. If I apply for inheritance renunciation, can I not receive the property completely?
See the main text for details.
3. How can I avoid inheriting only the debt relationship?
See the main text for details.