An agreement on the division of an estate serves to distribute the assets of the estate – the property and rights forming part of the inheritance – among the heirs. Drawing up an agreement on the division of an estate becomes possible after the death of the deceased; however, before it can be concluded, it is first necessary to draw up a deed of certification of succession or obtain a final court decision declaring the acquisition of inheritance, report the acquisition of the inheritance to the Tax Office, and then the heirs – statutory ones or those named in a will – must reach full agreement on how they wish to divide the estate; otherwise, the division of the estate must be carried out in court.
What about the debts of the estate in the case of its division?
Pursuant to Article 1030 of the Civil Code, until the inheritance is accepted, the heirs are liable for the debts of the estate only up to the value of the estate, and from the moment the inheritance is accepted, they are liable for these debts with all of their property. Until the division of the estate, the heirs bear joint and several liability for the debts of the estate, and if one of the heirs has satisfied a claim, they may demand reimbursement from the other heirs in shares corresponding to the size of their interests; from the moment of the division of the estate, the heirs are liable for the debts of the estate in proportion to the size of their shares.