Distribution of the estate is the process of dividing the remaining assets among the heirs upon the death of the testator. This asset is called inheritance. The estate is not just about immovable properties; Bank accounts, vehicles, company shares, receivables, debts, movable property and other economic values may also be included in the estate.
The inheritance passes to the heirs at the time of death. However, in order for the heirs to actually exercise their rights on the estate, it is often necessary to obtain an certificate of inheritance, complete the title deed and bank transactions, complete the tax filing and share among the heirs.
Who are the Legal Heirs?
Statutory succession follows the groups of relatives set out in the Turkish Civil Code. Descendants take priority, followed where applicable by parents and their descendants, then grandparents and their descendants. The surviving spouse’s share depends on the group of relatives with whom they inherit.
A will or inheritance agreement may designate heirs or legatees. Infringement of protected shares may give rise to an action for reduction of testamentary dispositions or other applicable remedies.
Where to Get an Inheritance Certificate?
The certificate of inheritance is a document that shows who the heirs are and their share of the inheritance. In practice, it can be obtained from the civil court of peace or, if there are conditions, from the notary. This document is not the distribution of the estate itself; it only shows the heirs and share ratios.
It may not be possible to obtain a document from the notary public if there is a deficiency in the civil registry, an element of foreignness, a lineage dispute, old civil registry records or a dispute between heirs. In this case, an application to the civil court of peace may be required.
How is the Estate Determined?
In order to obtain reliable results in distribution of the estate, the scope of the estate must first be determined. The decedent's bank accounts, land records, vehicles, company partnerships, debts, sureties and ongoing lawsuits should be investigated.
In some cases, it is also important whether the estate is in debt or not. Heirs must take into account not only the estate assets, but also the estate debts under certain conditions. For this reason, options such as acceptance, rejection of the inheritance or official liquidation of the estate should be evaluated.
What is Disclaimer of Inheritance?
Disclaimer of inheritance is the legal declaration of the heir not to accept the inheritance. It becomes especially important in cases where the estate is in debt. Disclaimer of inheritance is time-bound and missing the period may result in loss of rights.
Disclaimer of inheritance does not occur only through actual behavior. An application must be made to the competent court in accordance with the procedure. In some cases, the heir's disposition of the estate can be considered as acceptance of the inheritance.
How to Share If the Heirs Agree?
If there is an agreement between the heirs, the sharing can proceed faster. In terms of real estate, title deeds can be transferred and then share transfer, sale or division transactions can be carried out. Transactions regarding bank accounts and securities are carried out with the documents required by the relevant institutions.
Making a written sharing agreement is especially important in cases where there is real estate, company shares or high-value assets. It should be clearly regulated which property is left to whom, whether equalization is made or not, how the debts will be covered and who will carry out the tax transactions.
What Happens If the Heirs Cannot Agree?
If the heirs cannot agree, partition proceedings may be necessary. Co-owned property may be divided in kind where legally and practically possible, or sold and the proceeds distributed.
Mandatory mediation requirements should be checked for disputes over partition of co-owned property. Other remedies may concern reduction or annulment of testamentary dispositions, simulated transactions by the deceased, equalisation or recovery of estate property.
How to Share an Inherited House?
The inherited house may be shared or jointly owned by the heirs. If the heirs agree, the house can be left to one heir and paid to the others, sold to a third party and the price shared, or shared ownership can be continued. If there is no agreement, it may be necessary to file an action for partition of co-owned property.
The family residence, the rights of the surviving spouse, usufruct rights, a will, or the presence of a mortgage, lien, or annotation on the real estate may affect the sharing. For this reason, a definitive assessment should not be made without examining the land registry.
Risks to Consider When Sharing Inheritance
The most important risk in distribution of the estate is the incomplete determination of the scope of the estate. The second risk is sharing assets without taking debts into account. The third risk is that verbal agreements made between heirs may be denied or interpreted differently in the future.
Moreover, distribution of the estate is not only a matter of private law; Inheritance and transfer tax, title deed fees, bank procedures and administrative applications are also part of the process.
Frequently Asked Questions
Does an certificate of inheritance mean distribution of the estate?
No. The certificate of inheritance shows the heirs and their share ratios; A separate transaction is required for the actual sharing of the estate or the transfer of asset values.
What happens if the heirs cannot agree?
Depending on the dispute, remedies may include partition, reduction or annulment of testamentary dispositions, challenges to simulated transactions, equalisation or recovery of estate property.
Is time important for disclaimer of inheritance?
Yes. Disclaimer of inheritance depends on the period. In addition, some behaviors of the heir that constitute disposition of the estate can be evaluated as acceptance of the inheritance.