Are there any regulations on inheritance rights?

A right of succession is the legal right of certain persons to receive the assets, rights and obligations of a deceased person (called the decedent or de cujus). This right is based on family ties, the wishes of the deceased person as expressed in a will, or, in the absence of a will, on the basis of law.

This right is essential for the transmission of inheritance from one generation to the next, ensuring the economic and social continuity of the family. It also provides a legal framework to ensure that the wishes of the deceased, as expressed through a will, are respected and that assets are fairly distributed among the heirs.

Furthermore, this right protects heirs from possible abuse and ensures that inheritance proceedings are conducted in an orderly manner in accordance with the law, minimizing family disputes and ensuring that the debts and obligations of the deceased are adequately managed.

However, is this right regulated? Lawyer Ramiro Amilcar Andrade Quisbert, professor of law at Franz Tamayo University, clarified that the right of inheritance is never regulated, but the actions to assert it are regulated.

What is a prescription?

Prescription is a fundamental legal concept based on the passage of time. Generally speaking, it allows a person to acquire rights or get rid of obligations over time. This legal figure applies to all areas of law and has a significant impact in the field of inheritance.

Andrade explained that the statute of limitations is a legal institution that is essentially understandable because the passage of time has the effect of solidifying factual situations, allowing for the “acquisition of rights and the exemption from certain obligations.”

“In simple terms, acquisitive prescription means that a person can acquire rights through the passage of time. The most famous is the issue of usufruct (…),” said Andrade.

On the other hand, the statute of limitations mainly occurs in debts and extends to economic monetary debts, such as bank loans.

10 years, prescription period

According to the Bolivian Civil Code, specifically Article 1029, the heirs have a 10-year period to accept or renounce the inheritance, which automatically occurs at the opening of the inheritance and takes effect automatically upon the death of the deceased.

“The period of acceptance is 10 years, calculated from the death of the deceased, which automatically opens the way for inheritance for the heirs or those who believe that they have some rights to the assets of the deceased,” the jurist clarified.

This provision is critical to ensuring that the deceased’s assets do not remain in limbo for long and to protecting the rights of potential heirs.

However, the statute of limitations for acceptance of inheritance is not automatic and must be invoked by the person who considers himself to be entitled to the inheritance and must be authorized by the competent authority.

Acceptance or relinquishment of inheritance is a voluntary act. The heir can choose to accept the inheritance, deny it or accept it under inventory interest. The latter allows the heir to know the status of the deceased’s estate before making a final decision, protecting him from unknown debts.

The Civil Code also contemplates situations where third parties (such as the creditors of the deceased) can judicially require the heirs to make decisions regarding the inheritance.

According to Article 1023, any interested party can ask the judge to set a deadline of no more than one month for the heir to declare whether to accept or renounce the inheritance. If the heir does not express his position within this period, his rights will be deemed terminated.

Two ways to accept or reject an inheritance

There are two ways to formally accept inheritance: notarial and judicial. The first is the most common and is conducted in front of a notary public, where each heir can accept the inheritance individually.

In the first option, the notary will express the heirs’ wishes through a public document called “Public Action”, As stated in Article 476 of the Civil Procedure Code.

“It is important to clarify that, since this is a voluntary procedure, it is not necessary for all the heirs to attend together. Let’s say there are five heirs, they can go to any notary together or individually to receive the inheritance. It is also not necessary for everyone to go to the same notary of public faith, although this is ideal in order to facilitate the corresponding procedure,” the lawyer explained.

Judicial recourse may be used when there is a dispute between heirs or special circumstances that prevent notarial acceptance (such as conflicting interests between heirs).

In the second option, Andrade said the judge will decide whether to accept the claim of succession, formerly known as the declaration of heir.

Andrade explained that the rule provides for three exceptions to the statute of limitations in inheritance law cases:

1 If a person is in a diplomatic post or any other mission abroad, his right to declare himself as the heir does not cease and the statute of limitations is suspended.

2 It also does not apply when the heirs receive the inheritance as a stock interest and the inheritance has a right of credit. If this is not the case, they may end up being unable to pay the points that the deceased had to collect during his lifetime.

3 After the husband’s death, the wife’s right to receive the inheritance remains valid after 10 years.

The 10-year statute of limitations for heirs to decide whether to accept or abandon the deceased’s assets is a legal mechanism to ensure that inheritance rights do not remain mired in limbo indefinitely and that assets are properly managed, avoiding the state having to intervene in the management of vacant assets, although this is rare.