CONTRACT WITH HEREDITARY EFFECT – CONTRACT ON THE ASSIGNMENT AND DIVISION OF THE PROPERTY FOR LIFE

Abstract

Contract on the assignment and division of property for the life is a contract between predecessor and his descendants, that products also law hereditary effects. Contract on the assignment and division is producing hereditary effect in the event that the assignment and division is agreed by all descendants children’s who will be invited by law to inherit. The contract was made in the form that is stipulated by the Law on the inheritance. Contract on the assignment and division of the property for life, is characterized by and have the following effects: legal obligations and legal inherit effects . Predecessor contract may include all the property that exists at the time of assignment and division, but can also include only one part of the property. The subject of inheritance may be just what is not included by valid contract on the assignment and division. The contract must be made in writing, under the threat of nothingness. To revoke the contract is authorized by the person who has initiated the contract. The reasons may be the same as those for which a person can exclude from heritage, but also may be other circumstances.