It is a mode of acquisition by virtue of which, the property, rights and obligations, to the extent of the value of the inheritance, of a person are transmitted through his death to another either by his will or by operation of law.
The elements of succession are ________
I. Decedent
II. Estate
III. Heirs
IV. Administrators/Executors
Estate is ________
Statement 1: Inheritance refers to all the property, rights and obligations of a person which are not extinguished by death and all which have accrued thereto since the opening of succession.
Statement 2: Rights which are purely personal and are not transmissible for they are extinguished by death.
Which is NOT true about inheritance?
Heirs, for estate tax purposes are classified as ______
I. Voluntary heirs.
II. Compulsory heirs
III. Legal or intestate heirs
Heir who inherits personal property by will is known as: _____
Which of the following is not a compulsory heir? _____
The "compulsory heirs" are classified as: _____
I. Primary legitimate children and/or descendants
II. Secondary legitimate parents and/or ascendants; illegitimate parents
III. Concurring- surviving spouse; illegitimate children and/or descendants
A person appointed by the testator to carry out the provisions of the will is called: ____