A distribution agreement must always be drawn up. It explains how the inherited property has been divided and what property each heir has received. It is also known as a deed of distribution and is a very important document, as it allows the heirs to register the property they inherit in their own names, for example. The deed of distribution must also be submitted to the Tax Administration.
The distribution will only take effect once the deed of distribution has been signed
A deed of succession is a record of the distribution of an inheritance. Mandatory a document that records, among other things, information about the beneficiaries and their shares in the distribution. In practice, the deceased's succession record reflects the final outcome of the distribution of the estate between the parties.
When must a deed of succession be drawn up?
The distribution must always be recorded in writing. It is done after the distribution of the estate has been made, i.e. when the estate has been distributed in full to the partners of the estate.
The distribution of an estate can be made by contract, in which case the distribution is made by the partners themselves.
[su_button url=”tel:0102995090″ background=”#003c69″ color=”#ffffff” size=”9″ radius=”0″ icon=”icon: phone” icon_color=”#ffffff” text_shadow=”0px 0px 0px #000000″ class=”.right { float: right; width: 300px; border: 3px solid #73AD21; padding: 100px; }”]Call 010 299 5090 [/su_button].[su_button url=”https://amoslaki.fi/ajanvarauskalenteri/” background=”#003c69″ color=”#ffffff” size=”9″ radius=”0″ icon=”icon: calendar” icon_color=”#ffffff” text_shadow=”0px 0px 0px #000000″ class=”.left { float: left; width: 300px; border: 3px solid #73AD21; padding: 100px; }”]Book a free initial consultation [/su_button]
What should the succession record show?
-
Interested parties and their contact details
-
Grounds for inheritance. The basis on which a person is entitled to receive an inheritance from the person concerned must be entered in the distribution book. The basis for inheritance is either a family relationship or a will.
-
The distribution deed must state the number of fractions in which the estate will be divided in its entirety. It is also useful to indicate the amount of this division.
-
Marital status or lack thereof of the spouses of the deceased
-
For the sake of clarity, it is worth mentioning in the deed of distribution whether the assets forming part of the estate can be transferred to the deceased's spouse.
-
Signatures
-
The deed of distribution must be signed by the shareholders in the presence of two unobstructed witnesses.
The deceased's inheritance certificate must be submitted to the Tax Administration.
If you want to make sure that your deed of distribution is drafted in a clear and legally comprehensive manner, our office will assist you in drafting your deed of distribution. Preparation of the deed of succession from 1.000€.
Article written by Attorney Tuula Rainto, Amos Law Firm. You can always call him free of charge on 010 299 5090.
Related articles:
Inheritance Register
How is the inheritance distributed?
[avatar user=”amoslaki” size=”352″ align=”left” link=”https://amoslaki.fi/ajanvarauskalenteri/” target=”_blank” ]Attorney Tuula Rainto, Amos Attorneys at Law. You can always call her free of charge, tel.010 299 5090[/avatar]