Inheritance renunciation limited approval document application procedure cost difference in simultaneous application period pros and cons
상속포기 신청
Useful Legal Information
– Advertisement –
easy table of contents
Inheritance renunciation limited approval document application procedure
Inheritance renunciation application procedure
Inheritance renunciation preparation document
Inheritance renunciation application procedure
Application procedure for limited approval documents
Preparatory documents for limited approval
Limited Approval Application Procedure
Expenses for Limited Approval of Renunciation of Inheritance
Inheritance renunciation limited approval period
Inheritance renunciation Limited approval difference Advantages and disadvantages Simultaneous application
Inheritance renunciation limited approval document application procedure
Inheritance renunciation limited approval document application procedure cost difference in simultaneous application period pros and cons
If the deceased suddenly passed away, you will be sad and not embarrassed, but there are things you must check.
It is a debt-related problem of the deceased.
If you inherit a legacy and inherit a lot of wealth, it will be a pleasure
There are more cases than one might think that the deceased inherited more debt than property.
Therefore, the Civil Code of the Republic of Korea has a system of inheritance renunciation and limited acceptance to protect heirs.
Inheritance renunciation application procedure
Inheritance renunciation preparation document
Preparatory documents required for inheritance renunciation are basic certificate, family relation certificate, resident registration, etc./abstract, seal certificate.
The ancestor (deceased) must prepare three types of certificates: a basic certificate, a family relation certificate, and a certified copy/abstract of the person whose resident registration has been canceled.
Each heir must prepare a certificate of personal seal, a certificate of family relationship, and a copy/abstract of resident registration.
Basic certificates and family relation certificates can be issued from the court’s electronic family relation registration system.
A certified copy/abstract of resident registration can be issued from the government civil application portal.
Inheritance renunciation application procedure
In order to give up inheritance, you must submit a report in a legal form to the court and receive a written judgment from the court. (Civil Law Article 1030)
In the report, the registration base address, address, name, date of birth, purpose of report and cause of report, date of report, indication of family court,
The name and last address of the ancestor, the relationship with the ancestor, the date on which he/she became aware of the commencement of inheritance, and the intention to give up inheritance must be included.
In addition, the heir’s basic certificate, family relation certificate, copy of resident registration cancellation, seal of the heir himself or his agent, and
A certificate of seal impression, family relation certificate, and a copy/abstract of resident registration must be attached and submitted together.
When the above documents are ready, you will fill out the Inheritance Abandonment Judgment Form, and after receiving it, the process will proceed in the order of receiving the Judgment.
Since the Supreme Court uses electronic litigation, it is possible to apply for inheritance renunciation at any court in the country.
A law firm or a judicial scrivener may act as your proxy to prepare and receive reports.
Application procedure for limited approval documents
Preparatory documents for limited approval
Preparatory documents required for limited approval are basic certificate, family relation certificate, resident registration, etc./abstract, seal certificate, property, and debt explanation documents.
Most of them are similar to preparation documents for giving up inheritance, but you need to prepare additional documents for explaining property and debt.
The ancestor (deceased) must prepare a copy or abstract of resident registration (cancellation), a certificate of family relationship, and a basic certificate.
Each heir must prepare a copy or abridged copy of their resident registration, a certificate of family relationship, a certificate of seal, property, and debt explanation documents.
Basic certificates and family relation certificates can be issued from the court’s electronic family relation registration system.
A certified copy/abstract of resident registration can be issued from the government civil application portal.
Limited Approval Application Procedure
In order to grant limited approval, you must submit a request for trial for limited approval, which is a legally formatted report. (Civil Law Article 1030)
In the report, the registration base address, address, name, date of birth, purpose of report and cause of report, date of report, indication of family court,
The name and last address of the ancestor, the relationship with the ancestor, and the date on which he/she became aware of the commencement of inheritance;
The meaning of limited acceptance of inheritance must be stated.
In addition, the basic certificate of the heir, the family relation certificate and a copy of the person whose resident registration has been canceled, the heir himself or his agent
The seal must be sealed, and the certificate of seal, family relation certificate, copy or abstract of resident registration, and list of inherited property must be attached.
In the property inventory, not only active assets but also passive assets such as liabilities should be listed.
If there are any inherited assets that have already been disposed of, they must be listed and their value also included.
When the above documents are prepared, a request for limited approval judgment is filled out, and the procedure proceeds in the order of receipt of the judgment after submission.
The difference between inheritance renunciation and limited acceptance is that in inheritance renunciation, all procedures are completed when only the judgment is received.
There are things that need to be done after receiving the referee for limited approval.
First of all, within 5 days from the date of receipt of the written judgment for limited approval, a newspaper notice and a demand against creditors must be made.
In accordance with the procedure prescribed by the Civil Act, the inherited property must be used to repay the inherited creditors.
If the inherited debt exceeds the inherited property, an application for bankruptcy of the inherited property must be filed in accordance with the Debtor Rehabilitation and Bankruptcy Act.
In the case of filing for bankruptcy, the inherited property is bankrupt, not the heir, so you do not have to worry too much.
Expenses for Limited Approval of Renunciation of Inheritance
Inheritance renunciation limited approval document application procedure cost difference in simultaneous application period pros and cons
The cost of inheritance is KRW 4,500 for stamp duty and KRW 31,200 for delivery fee.
The stamp fee is 4,500 won for electronic application and 5,000 won for written application.
In case of inheritance renunciation through a judicial scrivener, a cost of KRW 440,000 including VAT will be incurred.
Inheritance renunciation fees of judicial scriveners may vary depending on the difficulty of the inheritance renunciation judgment request.
The cost of limited approval is the same as stamp duty and delivery fee, and the newspaper publication fee is separate.
In the case of limited approval through a judicial scrivener, in the case of general limited approval, including value-added tax
440,000 won ~ 550,000 won in expenses and special approval
Costs range from KRW 660,000 to KRW 880,000 including VAT.
In the case of not publishing a newspaper because there is no inherited property, the newspaper publication fee is excluded.
Similar to the inheritance renunciation fee, the fee may vary depending on the difficulty of the limited approval judgment request.
Inheritance renunciation limited approval period
Inheritance renunciation limited approval document application procedure cost difference in simultaneous application period pros and cons
Inheritance cannot be renounced until the ancestor dies.
You must proceed within 3 months from the date you become aware of the commencement of inheritance.
In the case of inheritance renunciation, since the creditor is not subject to the creditor’s right to cancel, the creditor
Giving up inheritance to avoid forced execution is not a problem.
Limited approval is divided into general limited approval and special limited approval.
General limited approval is a limited approval within 3 months, and must be carried out within 3 months from the date on which you are aware of the commencement of inheritance.
Special correct approval is a limited approval given after 3 months without gross negligence that the inherited debt is greater than the inherited property.
If you do not know, you must give limited approval within 3 months from the date you know the fact.
Remember that both inheritance renunciation and limited acceptance must be carried out within 3 months from the date you find out that there is inheritance.
Inheritance renunciation Limited approval difference Advantages and disadvantages Simultaneous application
Inheritance renunciation limited approval document application procedure cost difference in simultaneous application period pros and cons
In case of renunciation of inheritance, the share of inheritance shall belong to other heirs of the same rank.
If all heirs of the same rank give up inheritance, the inheritance will be inherited by the heir in the next rank.
In order not to burden the subordinates, all seniors do not give up their inheritance.
One of them chooses a lot of ways to give limited approval.
In the case of limited acceptance, there is an advantage that the inheritance right does not pass down to the heirs in the subordinate order.
Acquisition tax and transfer tax have to be paid, and there is a burden to respond to creditors.
A list of properties that will receive limited approval must also be prepared, and inheritance creditors ask to pay off the debts of the deceased.
When a lawsuit comes in, there may be litigation costs due to defeat.
If you have more inherited assets than inherited liabilities or you do not want to burden subordinates, most of you choose limited approval.
Usually, one of the co-heirs gives limited acceptance, and all the others give up inheritance.
At the same time, we apply for limited approval and renunciation of inheritance.
While the method does not harm the 4th-ranked relative,
Because it is a sure way to conclude a legal relationship
We recommend that you discuss this with your family and proceed accordingly.