When you are heir, you will have to deal with many formal texts with new legal concepts for you. This glossary can help you understand them. Overview of Dutch concepts and translations.
Acceptance of the succession or of a reserved share.
- Afgezonderd Particulier Vermogen ‘APV’
Comparable with Trust.
Dutch tax legislation has a specific regime for property separated in a trust, foundation or a comparable legal form for private purposes. The separated property is fully allocated to the grantor for income tax purposes. Upon the death of the grantor allocation takes place to his heirs.
- Beneficiaire aanvaarding
Acceptance subject to inventory
Share in the inheritance
- Finaal verrekenbeding
A set-off clause
A set-off clause in a marriage contract can arrange that certain types of income or the property of the spouses are shared. A distinction can be made between a final set-off clause, effective when a marriage is dissolved, and a periodic set-off clause, effective during a marriage. The set-off clause will grant one spouse a claim on the other spouse under the law of obligations.
- Inroepen legitieme portie
To invoke the reserved share
Bequest / legacy
- Legitieme portie
Reserved or rightful share
- Schulden in een nalatenschap
Liabilities/ debts in an estate
Will / testament
A fideicommissum de residuo
The fideicommissary heir has the power to dispose of and consume. This fideicommissum is subject to the same rules as a usufruct to which the rights of disposal and consumption are attached.
Liquidator of a negative estate
Division / distribution of the estate
Waiver of the succession / waiver of a reserved share
- Wettelijke verdeling