This constitutes the 3rd and final part of the series of informative articles regarding the recent legislative changes to Greek inheritance law. This part presents the main new provisions of inheritance law concerning estate debts and the means by which creditors may satisfy their claims.
Law 5303/2026 introduces noteworthy provisions regarding the acceptance and renunciation of an inheritance, the heir’s liability with their personal assets, and the modernisation of judicial estate administration.
- What are the key aspects of the new provisions regarding the acceptance and renunciation of an inheritance?
The changes concerning acceptance and renunciation are primarily corrective in nature. Among other things, it is provided that urgent acts of administration carried out prior to renunciation do not constitute acceptance of the inheritance, nor do they prevent renunciation. At the same time, the annulment of the deemed acceptance by court decision is treated as equivalent to a disclaimer of the inheritance.
Renunciation continues to occupy a central position under the new system: the heir acquires the inheritance because they have not disclaimed it within the prescribed time limit, whereas the expiry of that time limit without action results in deemed acceptance.
The commencement of the time limit for renunciation is linked to knowledge of both the devolution of the inheritance and the general or specific grounds giving rise to it. For this reason, even renunciation by more distant relatives may be timely several years after the death, provided that knowledge of the grounds for devolution was acquired at a later date.
- What changes with regard to renunciation by minors?
The special provision allowing minors to disclaim an inheritance within one year of reaching the age of majority, i.e. until their 19th birthday, is abolished. Under the new legal framework, the disclaimer of an inheritance on behalf of a minor must be made within the ordinary statutory disclaimer period, subject to prior court authorisation. Consequently, the special one-year period for renouncing an inheritance after reaching the age of majority no longer applies to minors. The new provision applies to inheritance matters concerning persons who die on or after 16.09.2026.
- What is now applicable to acceptance of an inheritance with the benefit of inventory?
The benefit of inventory constituted a legal right whereby the heir accepted the inheritance but limited their liability for the deceased’s debts to the amount or value of the estate’s assets (the estate’s assets), thereby protecting their personal and individual property. In this way, it ensured the separation of the heir’s personal assets from the estate.
Under Law 5303/2026, the above possibility is abolished, while the institution is retained on a transitional basis for a period of six months from the publication of Law 5303/2026.
- Is the heir now liable for the estate’s debts with their personal assets?
No, this is no longer the rule.
The fundamental innovation of the new inheritance law is that the heir is not liable with their personal assets.
Whereas under the previous regime the heir was personally and without limitation liable for the obligations of the estate, the rule now is that the estate itself, rather than the heir’s personal assets, is used to satisfy the claims of estate creditors.
- From which assets are estate creditors now satisfied?
Estate creditors are satisfied solely from the estate.
If enforcement proceedings are attempted against an asset belonging to the heir’s personal estate, the heir may file an objection to the enforcement proceedings.
However, the absence of liability with personal assets is not absolute. The new inheritance law provides for specific cases in which the heir’s liability is extended.
- In which cases may the heir also be liable with their personal assets?
Liability may extend to the heir’s personal assets, inter alia: (a) where they submit a declaration of unrestricted disposal and administration of the estate, (b) where they dispose of estate assets for a purpose other than the satisfaction of creditors or their preservation, (c) where they culpably cause a reduction in the value of the estate, and (d) where they fail to comply with the statutory order of satisfaction.
As regards the order of satisfaction, estate creditors and persons entitled to a compulsory share take priority, followed by legacies, modes and gifts mortis causa.
A special provision is also made for the parents of a minor heir, who, subject to specific conditions, may be liable with their personal assets.
- What is the significance of judicial estate administration?
First of all, judicial estate administration is the procedure whereby the court separates the deceased’s assets from the heir’s personal assets.
Under Law 5303/2026, judicial estate administration is reformed and upgraded, without, however, becoming mandatory.
Through judicial estate administration, a complete judicial separation of the estate from the heir’s personal assets is achieved. At the same time, an administrator is appointed for the purpose of ensuring the proportionate satisfaction of creditors.
The procedure protects estate creditors both against insolvency and against any potential mismanagement of the estate by the heir.
- Who may apply for judicial estate administration and who is appointed as administrator?
Under Law 5303/2026, the category of persons entitled to apply for judicial estate administration is expanded.
An application may now be submitted by the heir, personal creditors, persons entitled to a compulsory share and legatees. Mandatory service of notice on the heirs is also provided for.
Only a lawyer selected from a special register may be appointed as administrator. Furthermore, grounds for disqualification from appointment are provided for in respect of the heir, a creditor of the deceased and close relatives up to the fourth degree of consanguinity, with a view to ensuring the administrator’s impartiality.
- How are creditors protected and their claims satisfied within the framework of judicial estate administration?
The new system modernises the procedure for inviting creditors and filing their claims.
It provides for individual invitations to preferential creditors, specific deadlines for filing claims and drawing up the inventory, as well as the right to challenge the ranking schedule by way of opposition proceedings.
Upon the declaration of judicial estate administration, a separate pool of assets is created and individual enforcement measures are suspended, so that the estate may be administered and creditors’ claims satisfied in accordance with the estate administration procedure.
- What is the tax dimension of the new provisions?
The new inheritance law introduces new tax considerations.
Particular importance attaches to the new provision governing the compulsory share, which no longer gives rise to an automatic proprietary right but instead gives rise to a personal claim. It should be noted that the Inheritance Tax Code governs inheritances, legacies and trusts, but does not regulate this personal claim.
Consequently, questions arise concerning the taxation of the beneficiary, as well as the heir’s ability to revoke their declaration and seek a refund of tax paid unduly.
MStR Law can provide legal assistance to its clients in matters concerning the acceptance and renunciation of inheritance, heirs’ liability, and the administration and liquidation of estates, in accordance with the new provisions.