The state is hoping to be able to exploit unclaimed inheritances via new fast-track procedures. The relevant draft law, which will be presented in the coming days, even employs artificial intelligence to identify “forgotten” legacies.
The number of inheritances that remain unclaimed by their rightful recipients are estimated at around 7,000 and mainly concern real estate, as well as movable assets, such as cars, recreational boats, jewelry and even works of art.
At the core of the plan is the interoperability of state agencies in order to cut red tape, and the utilization of the register of citizens. Nowadays, it takes about four years for a property that has no heirs to become state property. It can take up to two years for the competent authority to be informed that someone has been disinherited or that heirs have renounced the inheritance.
Furthermore, the draft law aims at the modernization and effective management and supervision of public benefit institutions and inheritances, which amount to 1.12 billion euros.
Difficulties finding information is the most important obstacle currently lying in the way of the Finance Ministry, and in particular the General Secretariat of Public Property, regarding pending inheritances.
