In Spanish succession law, what's the point in simply accepting bequest without inventory benefit?

Question

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_{Artículo 998.}

_{La herencia podrá ser aceptada pura y simplemente o a beneficio de inventario.}

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_{Artículo 1003.}

_{Por la aceptación pura y simple, o sin beneficio de inventario, quedará el heredero responsable de todas las cargas de la herencia, no sólo con los bienes de ésta, sino también con los suyos propios.}

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_{Artículo 1007.}

_{Cuando fueren varios los herederos llamados a la herencia, podrán los unos aceptarla y los otros repudiarla. De igual libertad gozará cada uno de los herederos para aceptarla pura y simplemente o a beneficio de inventario.}

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_{Artículo 1010.}

_{Todo heredero puede aceptar la herencia a beneficio de inventario, aunque el testador se lo haya prohibido.}

_{También podrá pedir la formación de inventario antes de aceptar o repudiar la herencia, para deliberar sobre este punto.}

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_{Artículo 1019.}

_{El heredero que se hubiese reservado el derecho de deliberar, deberá manifestar al Notario, dentro de treinta días contados desde el siguiente a aquel en que se hubiese concluido el inventario, si repudia o acepta la herencia y si hace uso o no del beneficio de inventario.}

_{Pasados los treinta días sin hacer dicha manifestación, se entenderá que la acepta pura y simplemente.}

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_{Artículo 1023.}

_{El beneficio de inventario produce en favor del heredero los efectos siguientes:}

_{1.º El heredero no queda obligado a pagar las deudas y demás cargas de la herencia sino hasta donde alcancen los bienes de la misma.}

_{2.º Conserva contra el caudal hereditario todos los derechos y acciones que tuviera contra el difunto.}

_{3.º No se confunden para ningún efecto, en daño del heredero, sus bienes particulares con los que pertenezcan a la herencia.}

_{Artículo 1024.}

_{El heredero perderá el beneficio de inventario:}

_{1.º Si a sabiendas dejare de incluir en el inventario alguno de los bienes, derechos o acciones de la herencia.}

_{2.º Si antes de completar el pago de las deudas y legados enajenase bienes de la herencia sin autorización de todos los interesados, o no diese al precio de lo vendido la aplicación determinada al concederle la autorización.}

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_{Artículo 1033.}

_{Los gastos del inventario y las demás actuaciones a que dé lugar la administración de la herencia aceptada a beneficio de inventario y la defensa de sus derechos, serán de cargo de la misma herencia. Exceptúanse aquellos gastos imputables al heredero que hubiese sido condenado personalmente por su dolo o mala fe.}

_{Lo mismo se entenderá respecto de las gastos causados para hacer uso del derecho de deliberar, si el heredero repudia la herencia.}

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-- Real Decreto de 24 de julio de 1889 por el que se publica el Código Civil. (large download link)

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_{Article 998.}

_{Inheritance can be accepted purely and simply or at inventory benefit.}

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_{Article 1003.}

_{In pure and simple accept, or without inventory benefit, shall remain heir responsible for every load imposed on the inheritance, not only with its [inheritance's], but with her/his own too.}

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_{Article 1007.}

_{Whenever inheritance calls many, any will be able to accept and any will be able to reject. Same freedom will have each of the inheritors for accepting purely and simply or at inventory benefit.}

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_{Article 1010.}

_{Any inheritor can accept inheritance at inventory benefit, even when testator had forbid them.}

_{Also, they will be able to call the elaboration of the inventory before accepting or rejecting inheritance, in order to deliberate about it.}

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_{Article 1019.}

_{Inheritor calling the right to deliberate, will manifest the notary, in the next thirty days upon inventory conclusion, whether rejects or accepts inheritance and if calls inventory benefit.}

_{Upon thirty days with no such manifestation, purely and simply accept shall be understood.}

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_{Article 1023.}

_{Inventory benefit produces the following effects in benefit of the inheritor:}

_{1.o Inheritor is not required to pay debt and other loads imposed on inheritance, any more than goods from it reach.}

_{2.o Will hold against inheritance fortune any rights and actions held against the deceased.}

_{3.o To no effect is there confusion, against inheritor, of her/his own goods, and heritage goods.}

_{Article 1024.}

_{Inheritor shall lose inventory benefit:}

_{1.o By knowingly leaving out of inventory any good, right or actions from heritage.}

_{2.o By taking goods from heritage without consent of rest of concerned ones before completing debts and bequests payment, or prices are not applied as conceded.}

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_{Article 1033.}

_{Inventory expenses and any other acts caused by inheritance accepted at inventory benefit and inventory benefit rights, are to be supported by heritage itself. Will except any expenses caused by an inheritor sentenced personally for dolum or bad faith.}

_{Same shall be understood with regards to expenses caused in order to make use of right to deliberate, if inheritor rejects heritage.}

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-- Real Decreto de 24 de julio de 1889 por el que se publica el Código Civil. (large download link)

Translation mine, beware poor quality in the translation.

What's the point in holding purely and simply accept in law? A cheaper inheritance process when there is wide confidence debts are low compared to goods and rights? A way for creditors to mate with notaries in order to trick naive inheritors not using inventory benefit? Both?

Answer 1

There is a tradeoff between the delay and administrative costs associated with the Spanish equivalent of a probate proceeding, and the limitation of liability for the debts of a decedent that the proceeding can provide.

If you take the assets "pure and simple" you have to assume all of the decedent's debts with them, even if it might turn out that those debts exceed the value of the assets that you inherited. This is much cheaper and faster.

But, if you do not, and insist on an inventory and formal administration, if the estate is insolvent (i.e. if it is not able to pay all of the decedent's debts with the proceeds of the decedent's assets), then the worst case scenario for the heir is that you get no inheritance and the creditors of the decedent don't get paid to the extent that the decedent's assets aren't sufficient to pay them in full.

If you know that the estate is insolvent, or if the insolvency is a close thing or the insolvency is hard to evaluate because the debts of the decedent are unliquidated (e.g. a potential lawsuit for a personal injury the decedent caused) or complex (e.g. for a decedent with complex business deals), you would not want to take "pure and simple" and risk being exposed to those debts unless you felt a personal moral obligation to pay those creditors from your own funds anyway.