Inheriting a property while alive is possible in our country through a procedure called legitimate advance, better known as anticipated inheritance. This is a procedure that must be carried out before the National Superintendence of Public Registries (Sunarp) and in which all heirs must be taken into account.
This anticipated inheritance implies the donation or release of assets for whom the law classifies as forced heirs, those who cannot be excluded from the inheritance without legitimate cause, either due to disinheritance or unworthiness.
WHAT IS THE OBJECTIVE OF ANTICIPATED INHERITANCE?
Advance of legitimate or anticipated inheritance is intended to the forced heirs have ownership of the assets, mainly real estate, before the death of the owner from whom they will eventually inherit.
The legitimate advance, it should be emphasized, is not a unilateral act. The participation of the forced heir(s) who will benefit is necessary for the advance to be considered valid as such.
CAN I REMOVE MY WIFE OR CHILD FROM THE INHERITANCE?
Forced heirs cannot be excluded. “The person who wishes to make the legitimate advance must take into account that they have forced heirs. These are, in descending degree, spouse and children; and in ascending degree, parents, grandparents or great-grandparents. Forced heirs cannot be excluded from the inheritance without there being legitimate and legal cause, either due to disinheritance or unworthiness”, explains Renán Herrera, a lawyer from legalex.pe.
It is important to note that all children have the right to receive the inheritance in the same proportion, regardless of whether they are the result of a marital relationship or not, and regardless of the economic situation of each child.
People can inherit their assets while alive (Photo: Getty)
HOW DO I DO THE ADVANCE INHERITANCE PROCESS?
In order to execute a legitimate advance, you must do the following:
- Prepare a minute. The acceptance clause of the legitimate advance must be included. The minutes must be drawn up, signed and sealed by a lawyer.
- The document must state the intervention of the anticipatory (that is, the person who grants the legitimate advance) expressing his willingness to give in advance, and that of the anticipated (beneficiary), expressing his acceptance.
- The asset or assets that are transferred, their real value and the charges that must be paid (mortgages, excise taxes, among others, if applicable) must be indicated individually.
- Inscription. Elevate the minute to a public deed before a notary public and register it in the Public Registries (Sunarp).
WHAT ARE THE REQUIREMENTS FOR ANTICIPATED INHERITANCE?
To carry out the legitimate advance, you must have the following documents:
- Certified copy of the birth or marriage certificate, depending on the case, of the beneficiary of the advance, unless it is inserted in the public deed.
- Notarial part of the public deed with the intervention of the anticipant (the one who grants the legitimate advance) and the beneficiary of the advance (Advance), in which the real current value of the asset given in advance must be stated.
- In the corresponding Public Records office (Sunarp), you must request the registration of the title and submit a free distribution form, which must be duly filled out and signed by the presenter.
- Make the payment of registration fees.
