By Chrysostomos Tsoufis

The heirs have four months at their disposal to renounce the property they inherit. The period for early renunciation increases to 12 months if:

-The heir had his last residence abroad or
-The heir learned about the inheritance while residing abroad

These result from a circular sent to D.O.Y by its head AADE Giorgos Pitsilis after numerous questions addressed to the tax authorities by the interested parties.

The deadline for renunciation starts from the moment the heir learns about the induction of the inheritance (i.e. the death of the heir) or in the case of a will from the moment of its publication.

If the deadline passes then it is considered that the inheritance has been (implicitly) accepted.

In addition to missing the deadline, the acceptance or rejection of the inheritance may still be invalid in the event:

-Which has been done before induction
-Where there is a fallacy as to inheritance
-If it has been made subject to a condition or deadline or concerns part of the inheritance

As clearly defined in the circular, the heir is not only informed of the death of the heir but
and those circumstances constituted the necessary legal conditions for the summoning of the heir to the inheritance of the deceased (eg the absence of a will and the closest relation of other persons to the heir). In essence, knowledge of the cause of induction exists when the heir knows that he is called to the inheritance by the will of the deceased or by law (eg as an intestate or as a legal sharer).

The renunciation is made by declaration in the magistrate’s court in the district in which the heir had his residence at the time of his death or, if he had no residence, his residence, or, if he had neither residence, in the magistrate’s court of the capital of the State

If the heir renounces the inheritance, it is transferred to the person who would have become the heir if the person renounced was not alive at the time of the death of the heir. In this case, the deadline starts from the knowledge of the renunciation of the “leading” heir and the summoning of the next one because of it.