Erbrecht#
Succession, Law and Rights of, in an objective sense this includes all legal provisions which regulate the transfer of the estate of a deceased person (testator) to other persons; in a subjective sense it is the right of the heir to take possession of the whole or of certain parts of the estate. The main legal source of the Austrian law and rights of succession is the Allgemeines Buergerliches Gesetzbuch (§§ 531-824).
The estate (inheritance) comprises all assets, rights and obligations
of a deceased person. The deceased names the heir in a Testament or
Inheritance, Contract of (succession in accordance with a disposition
by the deceased), if that is not the case, the legal Succession, Line
of becomes effective. The testator´s freedom is limited by the
right to a Compulsory Portion. The appointed heir takes possession of
the inheritance after a judicial court-hearing on the inheritance. The
heir accepts or waives the inheritance by an inheritance declaration.
By an unconditional inheritance declaration, the heir accepts the
inheritance without reservation of liability, by a qualified
inheritance declaration the heir becomes personally liable, but only
to the extent of the total value of the inheritance. The heir´s
share of the inheritance is subject to inheritance tax.
Literature#
H. Koziol and R. Welser, Grundriss des buergerlichen Rechts, vol. 2, 91991.