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Putin hails new inheritance laws in Russia

Moscow, 26 November, ITAR-TASS correspondent Mikhail Kalmykov: Russian Federation President Vladimir Putin today stressed the importance of adoption by the Federal Assembly of the third part of the Civil Code, which covers inheritance rights.

"I have already signed the relevant law," he said during a meeting with ministers. "This is a landmark in the establishment of civil legislation and an important step in the regulation of the relationship between state, individual and economics."

It is a matter of economic and social importance because above all it defines inheritance rules and removes various bureaucratic obstacles, Putin said.

The rules in the previous Civil Code "were no longer appropriate to the times". They caused conflict among relatives over inheritance rights and gave rise to official abuses.

The new law, the president continued, gives the individual citizen "total freedom to dispose of property and decide who inherits what". The number of people eligible for inheritances has been increased, and the new law virtually rules out the transfer of property to the state.

"The law properly protects the rights of 'unconditional heirs' - minors, some categories of dependent and others unable to work, and aims to end the unscrupulous manipulation of inheritance law," Putin stressed.

Introduction of the third part of the Civil Code "is a watershed on the road to a legislative framework for private property", the president said. "A person's natural desire to bequeath the results of his life's achievements to his descendants has always been and will remain a powerful incentive to successfully work and earn and build up movable and immovable assets. This is a landmark in the consolidation of a law-based state and towards securing the rights of the individual."

"Our legislation now deals with issues which have often placed individuals in a dilemma - how to divide among heirs a plot of land, home, other real estate, bank deposits and business interests," the president said.

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