inheritance


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Inheritance

Property received from a decedent, either by will or through state laws of intestate succession, where the decedent has failed to execute a valid will.

inheritance

n. whatever one receives upon the death of a relative due to the laws of descent and distribution, when there is no will. However, inheritance has come to mean anything received from the estate of a person who has died, whether by the laws of descent or as a beneficiary of a will or trust. (See: inherit, heir, heiress, descent and distribution, intestacy, intestate succession, will)

inheritance

noun appanage, benefaction, bequest, devise, dispensation, endowment, gift, hereditas, heritage, inherited property, legacy, presentation, property obtained by descent, property obtained by devise, provision, seisin, succession of property
Associated concepts: coparcenary, curtesy, descent, dower, inheritance estate, inheritance tax, intestate succession, patrimony, wills
Foreign phrases: Haereditas, alia corporalis, alia incorpooalis; corporalis est, quae tangi potest et videri; incorpooalis quae tangi non potest nec videri.An inheritance is eiiher corporeal or incorporeal; corporeal is that which can be touched and seen; incorporeal is that which can neither be touched nor seen. Feodum simplex quia feodum idem est quod haereditas, et simplex idem est quod legitimum vel purum; et sic feodum simplex idem est quod haereditas legitima vel haereditas pura. A fee-simple is so called beeause fee is the same as inheritance, and simple is the same as lawful or pure; and so fee-simple is the same as a lawful inneritance or pure inheritance. Filius est nomen naturae, sed haeres nomen juris. Son is the natural name, but heir is aname of law. Haeredum appellatione veniunt haeredes haeredumin infinitum. Under the name heirs come the heirs of heirs without limit. Haereditas est successio in univerrum jus quod defunctus habuerit. Inheritance is the succession to every right which the deceased had possessed. Haereditas nihil aliud est, quam successio in universum jus, quod defunctus habuerit. An inheritance is nothing other than the succession to all the rights which the deceased had. Si quis praegnantem uxorem reliquit, non videtur sine liberis decessisse. If a man dies, leaving his wife preggant, he is considered as having died childless. Major haereditas venit unicuique nostrum a jure et legibus quam a parentibus. A greater inheritance comes to each one of us from justice and the laws than from our parents.
See also: bequest, birth, birthright, dower, estate, hereditament, heritage, legacy, lineage

inheritance

1 hereditary succession to an estate or title.
2 the right of an heir to succeed to property on the death of an ancestor.
3 something that may legally be transmitted to an heir.

INHERITANCE, estates. A perpetuity in lands to a man and his heirs; or it is the right to succeed to the estate of a person who died intestate. Dig. 50, 16, 24. The term is applied to lands.
     2. The property which is inherited is called an inheritance.
     3. The term inheritance includes not only lands and tenements which have been acquired by descent, but also every fee simple or fee tail, which a person has acquired by purchase, may be said to be an inheritance, because the purchaser's heirs may inherit it. Litt. s. 9.
     4. Estates of inheritance are divided into inheritance absolute, or fee simple; and inheritance limited, one species of which is called fee tail. They are also divided into corporeal, as houses and lands and incorporeal, commonly called incorporeal hereditaments. (q. v.) 1 Cruise, Dig. 68; Sw. 163; Poth. des Retraits, n. 2 8.
     5. Among the civilians, by inheritance is understood the succession to all the rights of the deceased. It is of two kinds, 1 . That which arises by testament, when the testator gives his succession to a particular person; and, 2. That which arises by operation of law, which is called succession ab intestat. Hein. Lec. El. Sec. 484, 485.

References in periodicals archive ?
With the value of family homes now routinely being more than the PS325,000 inheritance tax relief threshold, it has become an issue for the majority rather than the few.
A nationally representative sample of adult men and women from across the four provinces was asked, in your opinion, do women in your household or your acquaintances relatives households get their share of inheritance as is their religious right.
Figures from HMRC show around 300 estates, including 130 in Birmingham, 100 in Solihull, 40 in Dudley and 30 in Wolverhampton, along with less than 10 in each of the other parts of the Birmingham area, paid inheritance tax in 2012/13.
In the first part of this article I mentioned how often an international inheritance is in question, and how Turkish inheritance law would work if there were a property left behind.
Inheritance may seem like the norm -- more than 85 per cent people of working age in the UAE, and more than three-quarters (74 per cent) globally, expect to leave their savings for their children -- however, new independent research commissioned by HSBC reveals that traditional inheritance may be dying out, as people increasingly have to redistribute their savings during their lifetimes.
This is a growing concern here, as while more than half of pre-retirees in the UAE say that they expect to receive an inheritance in the future, less than two in five state they have actually received one - highlighting a gap between hopes and reality.
In London, the potential impact on an inheritance tax bill is even more marked with an average house price of PS458,000.
As a result, European citizens, who have paid inheritance taxes to the Spanish authorities are entitled to make a claim for the overcharged amounts paid.
Inheritances and gifts play a major role in the distribution of wealth, accounting for an estimated one-quarter of total household wealth accumulation in the United States.
PAUL Brokenshar of Investec Wealth and Investment recalls a Commons debate in 1986 when Roy Jenkins MP described inheritance tax as being "a voluntary levy paid by those who distrust their heirs more than they dislike the Inland Revenue.
Huge inequalities in the inheritance of wealth exist in the United Kingdom, according to the latest figures from the Office of National Statistics.
8220;Cypress Inheritance utilizes Unreal Engine technology to bring a great blend of mystery, puzzle-solving and action to mobile, and we're pleased to see that experience extend to PC,” said Epic Games' Joe Kreiner, head of North American licensing for the Unreal Engine.