How and when does one become an heir?
Last update: 10/3/2012
The power to dispose of an estate is vested in the administrator appointed by the deceased in a will (‘executor’). In the absence of an administrator, the court (probate court) appoints one. The administrator appointed by the court is usually the deceased’s spouse. The ‘executor’ or ‘administrator’ is given a mandate to settle the estate and to distribute the assets among the heirs and legatees.
The estate of a deceased person is administered by this personal representative. The personal representative
- pays the debts of the deceased
- and distributes the assets and transfers property to the beneficiaries.
Thus, an acceptance of the succession is not necessary. However, a beneficiary of an intestate share may disclaim his/her share in the intestacy.
The heirs have only one claim against the administrator, on the net value of their respective shares in the estate, the estate being devolved to the administrator. For this reason, the liability of the heirs for the debts of the deceased does not exist. A possible limitation on liability/acceptance under benefit of inventory therefore does not exist in Cyprus.
