Features of the inheritance contract

Not everyone of our citizen knows that a specialized hereditary agreement may act as an alternative to a standard will or a conditional testament.

What is really the hereditary agreement? In accordance with the Civil Code of our country, according to this version of the contract, one of the parties (as an example, the acquirer) assumes the responsibility of fulfilling certain orders of the second party (which is the alienator), and, at his death, has the right to receive the property of the alienator himself. The hereditary agreement is essentially a large extent resembles an agreement on a lifelong content, or a will with a certain condition, but in reality this is not so.

What are its features?

Due to the fact that this is a contract, certain standardized requirements for such agreements are extended to it – conclusion, fulfillment of certain constituent conditions, as well as termination. Do not forget about the moment that the hereditary type of contract is primarily a transaction under the terms of which each party undertakes to fulfill a number of certain conditions.

The recipient conducts the fulfillment of the registered conditions, while the alienator himself completely bequeaths his property after his death. At the same time, hereditary rights are affected exclusively in the context of the transfer of property rights from one of the parties to the other after the death of the owner.

In the hereditary version of the contract, it is enough to prescribe a variety of responsibilities, while not only the content and care of the owner of real estate, which is actually provided for by the contract of lifelong maintenance.