Inherit Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Inherit, written in plain English, along with examples of how it is used.
What is Inherit?
It refers to the act of receiving of the assets and properties of an ancestor, usually from parents or close relative, with or without the Will.
History and Meaning of Inherit
Inherit is a term that dates back to ancient times as it pertains to the transfer of wealth and property through generations. It refers to the act of receiving assets and properties of an ancestor, usually from parents or close relative, with or without a will. Inheritance laws have varied across different cultures and periods, with some societies having strict laws that govern it, while others are more relaxed with customs and practices.
In most common law jurisdictions today, inheritance rights are governed by statute laws that set out the rules for the division of property and the distribution of wealth. That being said, if there is no will, the inheritance laws will apply to determine how assets are to be distributed to beneficiaries.
Examples of Inherit
- Mark inherited his grandmother's house after she passed away.
- Jane inherited the family business from her father, who retired.
- Alex and his sister are set to inherit their parent's estate after they pass on.
- The younger sibling had to give up their inheritance to provide for their disabled older sibling.
Legal Terms Similar to Inherit
- Bequest: The act of giving or leaving personal property to someone by way of the will.
- Intestate: A person who has died without leaving a valid will or testament.
- Probate: The legal process of administering the estate of a deceased person in compliance with the will or the law.