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 Bürgerliches 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 bürgerlichen Rechts, vol. 2, ⁹1991.