What is inheritance? Regulations on inheritance? What is donated property? Regulations on donated assets? Distinguish between inherited property and donated property in the most detail? This article will help you answer the above questions. We invite readers to follow along.
1. What is inheritance? Regulations on inheritance
According to the provisions of the Civil Code, inheritance is the transfer of property from a deceased person to a living person. The property left behind is called legacy. Inheritance is divided into inheritance by will and inheritance by law.
Inheritance under a will is the transfer of property left by the deceased to the living, which they can freely dispose of during their lifetime. This has been clearly stipulated in Chapter XXII of the 2015 Civil Code .
Legal inheritance is the transfer of property left by the deceased to the living person according to the provisions of law if the testator does not leave a will or has made a will but the will is not legally valid. This has been stipulated in Chapter XXIII of the 2015 Civil Code.
2. What is donated property? Regulations on donated assets
Article 457 of the 2015 Civil Code (CPC) stipulates that donated property is property agreed upon between the parties, whereby the donor hands over his property and transfers ownership to the donor. Without requiring compensation, the donated party also agrees to receive that portion of the inheritance.
The 2015 Civil Code regulates inheritance and donation, in which the donation contract is an agreement between the parties, in which the donating party hands over its property and transfers the property to the other party without permission. request compensation and the donor agrees to receive.
(i) Form of donated property: The 2015 Civil Code does not regulate the form of donating property, so the contract to donate property can be expressed verbally, in specific writing or by action. This property donation contract must be in writing in cases where the law requires it to be notarized or authenticated to have legal effect: house donation contract, land use rights donation contract, …
(ii) Content of the donation contract: The content of the donation contract has some main contents as follows:
a. Object of the contract: donated property
b. Donation conditions (if any)
c. Term, location, form of contract performance
d. Rights and obligations of all parties
e. Payment of taxes and probate fees
f. Dispute resolution methods
Donated assets include cases of movable and immovable property.
2.1. Donate to movable property
A contract to donate movable property takes effect when the property is delivered to the recipient. For movable property whose ownership is required by law to be registered, the donation contract takes effect from the time of registration.
2.2. Donate real estate
Donations of real estate must be in writing, notarized, authenticated or registered if the law requires ownership registration.
A contract to donate inherited property that is real estate takes effect from the time of registration. If ownership does not require ownership registration, the contract to donate property takes effect from the time of transfer of ownership. property.
2.3. Conditional property donation contract
(i) When donating property with conditions, the donor may require the donor to comply with one or more civil legal obligations before or after the donation. The conditions of the donation must not violate the law and social ethics.
(ii) In case the obligation has been performed before the donation, if the donor has completed the obligation but the donor does not hand over the inheritance, the donor must pay the obligation that the donor has performed. .
(iii) In case the donor fails to perform the obligation after handing over the inheritance property, the donor has the right to claim the property and request compensation for damages.
3. Distinguish between inherited property and donated property in the most detail
3.1. The same point
– All are regulated in the Civil Code 2015;
– All assets are determined to transfer ownership of inherited assets from one person to another.
– All are exempt from personal income tax and registration fees when donating property to biological fathers, biological mothers and biological children; adoptive father, adoptive mother and adopted child; father-in-law, mother-in-law and daughter-in-law; father-in-law, mother-in-law and son-in-law; grandfather, grandmother and grandchildren; grandfather, grandmother and grandchildren; Brother, sister, brother together.
– If you do not fall into the above cases, you will have to pay personal income tax of 10% and registration fee of 0.5% of the property value.
3.2. Differences
| Criteria | Receive inheritance | Receive increase for |
Base | Part 4 of the 2015 Civil Code | Section 3 Chapter XVI Civil Code 2015 |
Concept | Inheritance is when one person receives another person’s property after that person dies according to the will that that person left or divides the inheritance according to law. | Donated property is property due to an agreement between the parties, whereby the giving party hands over its property and transfers ownership to the donor without requiring compensation, and the donated party also agrees. receive that inheritance. (Article 457 of the Civil Code). |
Beneficiaries | – Heirs are individuals: + Is a person still alive at the time of opening the inheritance; + Born and still alive after the time of opening the inheritance but conceived before the person leaving the property died. – In case the heir according to the will is not an individual, it must exist at the time of opening the inheritance. | The person donating the property and the person receiving the property must be alive. |
Form of implementation | – Leave a will – Divide assets according to law | Prepare a property donation contract |
Effective date | Heirs have the property rights and obligations left by the deceased from the time the inheritance is opened until the time the property owner dies. | – Donation of movable property: The time the donated party receives the property unless otherwise agreed; If movable property must be registered for ownership, it will take effect from the time of registration – Donation of real estate assets: Effective from the time of registration; If ownership is not required to be registered, it will take effect from the time of property transfer. |
Receiving procedures | – Done after the person leaving the legacy dies – The heir who wants to receive the inheritance will have to carry out one of the following procedures: (i) Declare inheritance according to will; (ii) Declare inheritance according to law; (iii) Division of inheritance | – Done while both parties are still alive – The two parties together make a contract to donate the property. |
