Heirs may limit their liability for the debts left by the deceased if they choose to accept the inheritance under an inventory. In this case they are liable only up to the value of the inherited assets included in the inventory of the estate.

For minor and adolescent children, acceptance of an inheritance is effected solely under an inventory. If one of the heirs accepts the inheritance under an inventory, this benefits the other heirs as well, i.e. they too are deemed to have accepted the inheritance under an inventory. They may, however, declare that they accept the inheritance outright or that they renounce it.

Documents for acceptance of an inheritance under an inventory

In the application for acceptance of an inheritance under an inventory, the heir must describe in detail all known bank accounts, movable and immovable property, as well as any company interests or shares in commercial companies held by the deceased. If the heir intentionally fails to list a particular item of estate property known to them, they will lose the advantages of acceptance under an inventory.

The documents are filed with the district court at the last permanent address of the deceased and include:

  • An application for acceptance of an inheritance under an inventory bearing the heir's notarised signature;
  • A certificate of heirs;
  • A certified extract from the death certificate of the deceased;
  • Documents establishing the deceased's title to immovable property and movable items;
  • Bank certificates of the deceased's bank accounts and the balances held in them;
  • Certificates from the commercial register of company interests held in commercial companies;
  • A payment order for the state fee paid.

Depending on the case, additional documents may be required.

Time limits and fees for acceptance of an inheritance under an inventory

The time limit for filing the application for acceptance of an inheritance under an inventory is 3 months from the date of becoming aware of the death of the deceased. This time limit may be extended once by the court, for a further 3 months, where there are circumstances beyond the heir's control that prevent compliance with the original time limit.

Within this period the heir must ascertain what assets and liabilities the inheritance comprises and decide whether to accept it outright, under an inventory, or to renounce it. For minor and adolescent heirs, however, this time limit for acceptance under an inventory does not apply.

A state fee of BGN 20 is payable for the consideration of the application, plus an additional BGN 5 for the certificate recording the acceptance under an inventory in the special book of the district court. Once the estate has been inventoried, an additional state fee is charged.

Procedure for acceptance of an inheritance under an inventory before the district court

After the application is filed, an inventory and valuation of the estate is carried out. The court may assign the preparation of the inventory to the municipality or the mayoralty. At the heir's request, the inventory may also be prepared by an enforcement agent. The inventory includes a separate listing of all movable and immovable items of the estate, and a record is drawn up in respect of it. An expert may be appointed to value the items.

Once the inventory has been prepared, the court rules by a decision to enter the application for acceptance under an inventory in the court's special book for the acceptance and renunciation of inheritances.

Consequences of acceptance of an inheritance under an inventory

An heir who has accepted the inheritance under an inventory may not conclude transactions involving estate property without the authorisation of the district judge. In the case of inherited immovable property, this restriction applies for a period of up to 5 years after acceptance under an inventory, and for inherited movable items it applies for up to 3 years. If the heir concludes a transaction without judicial authorisation, they will lose the advantages of acceptance under an inventory and will be liable without limitation for the debts of the deceased.

Within 3 months of the acceptance of the inheritance, the creditors of the deceased may request the separation of the deceased's property from that of the heir, in order to protect the estate from the claims of the heir's own creditors.

Should you require a consultation or assistance with the acceptance or renunciation of an inheritance, contact us on telephone 0887550706 or by e-mail: [email protected]