Difference between legacy and heritage
Main difference between the legacy and heritage
The main differences that distinguish the legacy of inheritance are as follows:
- In an inheritance, the heir succeeds the deceased in the ownership of their property, but also of their debts, and acquires all the rights and obligations are not extinguished with the death of the individual, as a legacy, the legatee acquires specific goods, but without answering of the debit of the heredity.
- Inheritance always occurs inevitably to the death of an individual, in ways that lack of will where the heirs indicated, the law will apply; whereas the legacy only takes place for will of the testator.
- The heir has responsibility to universal title, both assets and debts, and responds latter endlessly and even from their own resources, while the legatee is not liable for the debts of the estate, except in special cases that attributed some specific load or distribute all the inheritance in legacies.
- Another difference between the legacy and heritage is that the heir may be it by the deceased’s will or by law, while the legatee can only come from the will of the deceased and is established by will.
- An inheritance is accepted, but can also be rejected, instead the legacy acquires is without prior acceptance, being the heirs or the executor who will deliver the legacy to their owner.
- As for the legacies we must say that as mentioned when a person dies can leave one or more specific assets to a person in particular, but must be separated from the heritage, as can not be distributed to the heirs.