Ask a lawyer on the topic of Inheritance law

Division order and equalization of value

February 10, 2010 | 30,00 EUR | answered by Steffan Schwerin

Dear Sir or Madam,

My parents have stipulated the following in their will:

In the event of the death of the surviving spouse or in the event of simultaneous death, we hereby designate our common children as our final heirs:

1.XXX
2.XXX
3.XXX

each receiving 1/3.

We hereby make the following division arrangement:

Our 1.XXX shall receive our house property as sole ownership.

He undertakes to pay out to his siblings 100,000 DM each after the death of the last surviving parent. If 1.XXX has passed away, the division arrangement shall be invalid and the legal inheritance shall apply.

We estimate the value of our net assets to be approximately 300,000 DM.

So far, so good...

Question 1:

Does the division arrangement mean that the 100,000 DM must be paid out as a fixed amount, without taking into account the market value (approximately 300,000 euros) of the house? Or does it mean that the market value can be determined through an appraisal and then an equalization payment must be made to 2.XXX and 3.XXX?

Question 2:

1.XXX has been living rent and mostly cost-free in the parents' house for over 10 years. In the event of inheritance, is there a requirement to pay an equalization to 2.XXX and 3.XXX for this benefit to the co-heirs?

I would like to thank you for your professional advice.

Best regards,

Willi Windel

Steffan Schwerin

Dear questioner,

I will answer the questions you have asked taking into account the circumstances described and your efforts as follows:

Question 1: Does the division order now mean that the 100,000 DM will be paid out as a fixed amount without taking into account the market value (approximately 300,000 euros) of the house? Or does it mean that the market value can be determined by an appraisal and then a value adjustment must be made to 2.XXX and 3.XXX?

Here, the 100,000 DM are to be paid out, converted into euros.

This amount was specified in the will. Therefore, a fixed sum is to be paid out, not a value-based payment.

Question 2: 1.XXX has been living rent-free in the parents' apartment for over 10 years. Is there any compensation to be paid to 2.XXX and 3.XXX in the event of inheritance for this gift to the co-heirs?

No, no compensation is required here.

Only the will was implemented. Child 1 was able to live in the house as a result.

However, the inheritance would need to be calculated for the 3 children. If one of them received more than the others, the compulsory portion can be claimed.

If Child 1 has received significantly more than Child 2 and 3 from the parents' inheritance, 2 and 3 can claim a compulsory portion from 1.

The compulsory portion consists of half of the statutory share. Since this would have been 1/3 of the inheritance for 3 children, the compulsory portion is 1/6.

I would like to point out that this platform cannot replace comprehensive and personal legal advice. The sole purpose is to provide an initial rough assessment of your legal issue based on the information you have provided from a lawyer. The legal advice I provide is based solely on the information you have provided. Adding or omitting relevant information in your description of the circumstances can lead to a completely different legal assessment.

I hope I have been able to give you an initial overview and that my explanations have been helpful. Please feel free to contact me through the follow-up option on this platform.

Furthermore, I am available for legal representation. The initial consultation fee would be fully credited.

A greater distance between lawyer and client is generally not a problem. With the help of modern communication methods such as email, mail, fax, and telephone, legal representation is also possible.

Best regards,

Steffan Schwerin
Lawyer

Law Office of Steffan Schwerin
Golmsdorfer Straße 11
07749 Jena

Tel: 03641 801257
Fax: 032121128582

Email: raschwerin@raschwerin.de

Website: www.raschwerin.de