What is an Inheritance Partition Agreement, and what are its Conditions and Consequences?
What is an Inheritance Partition Agreement, and What are its Conditions and Consequences?
In this article, I will talk to my valued readers about what inheritance partition agreements are, how they are made, and their consequences.
An inheritance partition agreement is a type of contract that is frequently encountered in the field of inheritance law and, although not very well known among the public, is quite important. The types of contracts are regulated in the Turkish Code of Obligations, and it is stated that in addition to generally regulated contracts, there are also contracts specifically intended to be regulated. One of the contracts that is specifically regulated and depends on the existence of certain conditions is the inheritance partition agreement, which we encounter most often in inheritance law.
Agreements in which heirs regulate how they can dispose of the inheritance left to them by the deceased are called inheritance partition agreements.
The purpose of an inheritance partition agreement is to regulate how the inheritance should be shared among the heirs in accordance with their rights over their inheritance shares as determined by the deceased.
The manner in which an inheritance partition agreement is to be made is subject to certain rules. The rules for making an inheritance partition agreement are as follows;
Specifically;
If an inheritance partition agreement is to be prepared, it must not deviate from its purpose. The purpose of an inheritance partition agreement is to regulate how and in what manner the heirs will share the inheritance shares they have acquired from the deceased.
For an inheritance partition agreement to be made, the joint will of all heirs must be obtained. All legal and appointed heirs must, after giving their approval as a result of their joint will, sign the prepared inheritance partition agreement in compliance with the written form requirement. If even a single heir does not approve of the prepared inheritance partition agreement, then the agreement cannot be established.
Inheritance partition agreements must be prepared immediately after the death of the deceased. An inheritance partition agreement made by the heirs while the deceased is still alive is not a legally valid contract and is void.
For an inheritance partition agreement to be made, the inheritance must first not have been distributed by the heirs. If the assets have already been distributed by the deceased to their legal and appointed heirs, the heirs cannot come together and make an inheritance partition agreement.
It is not legally mandatory for an inheritance partition agreement to be made through official channels. However, making it in writing is appropriate for proving the existence of the inheritance partition agreement. As a rule, there is no obligation for an inheritance partition agreement to be made or approved by any official institution. However, there is an exception to this rule. Specifically, if the inheritance left by the deceased includes real estate, the registration process for the property must be carried out by a notary.
Following the drafting of an inheritance partition agreement in the manner I have detailed above, the heirs have certain responsibilities arising from this agreement. The consequences of inheritance partition agreements are of great importance to the heirs. Each legal and appointed heir is held responsible for fulfilling their obligations regarding the assets falling to their share in accordance with the provisions of sales contracts.
To summarize the consequences of an Inheritance Partition Agreement;
In accordance with an inheritance partition agreement, it gives the heirs the right to demand their own shares following the distribution. The responsibilities of the heirs towards each other arising from the inheritance partition agreement end with the delivery of movable property and the registration of real estate in the land registry.
As specified in the inheritance partition agreement, heirs are obligated to pay the debts they are responsible for on time and fulfill the performance they have agreed upon towards each other. The right of heirs who do not fulfill these obligations to file a lawsuit is reserved.
As a result of the inheritance partition agreement, the responsibilities of the heirs towards each other are not considered to have completely disappeared with the completion of the delivery and registration procedures for movable and immovable inheritance shares. If there is a defect in the inheritance share that falls to the heir, this is an indication that responsibilities continue.
Heirs are jointly and severally liable for the debts in the estate of the deceased. If the heirs pay the debt on the estate to a creditor who applies to them, they have the right of recourse in the proportion of the debt they have paid according to the inheritance partition agreement. Upon the death of the deceased, creditors may apply to any heir of the deceased for the collection of the debt.
The joint and several liability among heirs is subject to a 5-year statute of limitations starting from the date the distribution regulated in the inheritance partition agreement is made.