The estate inventory: When? How?

Is an inventory always required ? 

No, but there are certain cases in which the inventory is mandatory: 

• In the presence of an heir lacking legal capacity (Article 507-1 of the Civil Code),
• In the case of acceptance up to the net assets of the estate (Article 789 of the Civil Code),
• If the surviving spouse opts for usufruct, even if the deceased granted a waiver (Articles 600 and 1094-3 of the Civil Code),
• If the surviving spouse benefits from a lifelong right of residence and the other heirs so request (Article 764, paragraph 4 of the Civil Code),
• In the case of an unclaimed or vacant estate, “the curator must have an estimated inventory drawn up” (Article 809-2 of the Civil Code).

Who may request that an inventory be drawn up (Article 1329 of the Code of Civil Procedure)?

An inventory is never drawn up automatically. It must be requested by one of the following people: 

• the spouse or civil union partner,
• all those claiming a right to inherit,
• the executor of the will or the designated representative

The costs of preparing the inventory are borne by the estate.

In concrete terms, how is an inventory carried out?

The notary and the auctioneer or bailiff are present, along with any heirs, surviving spouse, or civil partner summoned by the notary.
The main steps: 

• The heading of the inventory, explaining the circumstances that require its preparation. The notary includes the identity of the heirs who requested it, their relationship to the deceased, and the extent of their rights. 
• It sets out the conditions under which the notary is taking action, lists out the people who were summoned, and specifies those who are actually present or represented.
• The appraisal or descriptive list of movable property, which also includes the parties’ comments regarding ownership of the inventoried items and the identification of their custodian.
• Review of deeds, documents, and securities.
• The general statements concerning the assets and liabilities.
• The closing: the inventory concludes with the closing statement, which records the completion of all proceedings and the taking of the oath. 
   

Is the inventory subject to a completion deadline? 

The law does not provide for a general deadline; however, specific time limits apply in certain cases: 

• In cases of acceptance up to the net assets of the estate: the inventory must be filed within two months from the declaration of acceptance up to the net assets, with the judicial court of the place where the estate is opened;
• In the presence of a surviving spouse usufructuary: the inventory must be completed before the spouse takes possession of the property.. 
   

Is the closing of the inventory subject to a deadline? 

The inventory concludes with the closing statement, which records the completion of all proceedings involving the interested parties, their heirs, and successors, as well as the taking of the oath. In practice, it forms part of the listing of the various assets and liabilities comprising the estate.
The closing of the inventory is mandatory and must take place within five years of the death to avoid the 5% flat-rate tax. (Article 764 I, 2° of the Civil Code).