Dividing an inheritance with a business, shares in a private limited company (bv) or several properties can rarely be done by simply splitting the assets by the number of heirs. First it must be established what the deceased owned, who may make decisions about it, which debts and obligations exist and which rights the heirs actually have. Only then do a valuation and a proposal for division make sense.
Written by Öznur Batur (family law aspects) and Onur Arslan (property law aspects), attorneys at Arslan Advocaten. Legal review: 28 September 2026. General information is not legal advice about your own situation.
At Arslan Advocaten, inheritance law and corporate law questions can be examined together. This is particularly relevant when the continuity of the business, the position of co-shareholders or the financing of real estate plays a role. This article offers a roadmap; the outcome depends on the will, family and company documents and the specific facts.
1. First establish which assets form part of the estate
Draw up an inventory as at the date of death. A property registered privately in the name of the deceased is something different from a property owned by a bv in which the deceased held shares. In the latter case, the shares may form part of the estate; the bv in principle keeps its own assets and obligations. A business premises belonging to the assets of a general partnership (vof), a current account claim (rekening-courantvordering) or a shareholding in a holding company also requires its own analysis. In the case of a vof, also check the title deed and the partnership agreement.
Start with the following documents: the will and the certificate of inheritance (verklaring van erfrecht) if available, prenuptial agreement (huwelijkse voorwaarden) or registered partnership agreement, title deeds and mortgage deeds, Chamber of Commerce (KVK) records, articles of association and shareholders’ agreement, annual accounts, loan agreements and the records of rent and maintenance. A civil-law notary can help establish who the heirs are and who has which powers. Also find out whether there is an executor (executeur) or estate administrator (afwikkelingsbewindvoerder) and what exactly their mandate covers.
Pay attention to the statutory division. If the deceased leaves a spouse and children and the statutory division (wettelijke verdeling) applies, the surviving spouse usually receives the assets and debts, while the children acquire a monetary claim. They are then not automatically joint owners of each property or each share. A will can change the outcome. So establish the legal position first, before you negotiate with each other about who ‘gets’ which asset.
This has a practical consequence. In that case, a child with a monetary claim against the surviving spouse does not decide as co-owner on the sale of an individual property. At the same time, the value of the monetary claim and when it becomes payable may be important for the settlement of the estate. If, on the other hand, several heirs are jointly entitled to an estate, the division of a property does require their involvement, subject to any special powers of an executor, liquidator (vereffenaar) or estate administrator. So do not use one standard form for both situations.
A will may also contain a legacy (legaat), an administration arrangement (bewind) or a provision for continuing the business. Do not read only the percentages of the inheritance shares, but also the provisions on management, choice, valuation, deadlines and authority. Make a chart showing, for each person: capacity, right, claim or debt, and decision-making authority. That is the legal basis for every later valuation and negotiation.
2. Protect the business operations and the real estate
A business often has to keep running while the settlement of the estate takes months. So make a temporary overview of powers: who signs contracts, who pays wages and taxes, who manages bank accounts and who communicates with tenants, lenders and suppliers? The heirs may have an economic interest, while the management and representation of the bv are determined by company law rules and the articles of association. An heir does not automatically become a director merely by inheriting shares.
With real estate, ongoing mortgage payments, rent, insurance, taxes and necessary maintenance are urgent. Agree who makes payments, how income and costs are recorded and which decisions require prior consent. Make a baseline record of keys, contracts, rent arrears, valuations and any sale plans. This prevents the discussion about value from being clouded by events after the death.
Is it still unclear whether the estate is positive? Get advice early on accepting or rejecting the inheritance. Unconditional acceptance (zuivere aanvaarding) and acceptance subject to the benefit of inventory (beneficiaire aanvaarding) have different consequences for liability and the settlement. Do not take any actions on the assumption that the choice can simply be reversed later.
Authority within a business needs a separate overview
After the death, check who the director of each bv is and whether a director has dropped out. The heirs may have a shareholder position, but in the meantime the company must be able to make payments and continue to meet its obligations. Who can sign on behalf of the bv follows from company law rules, appointments and the articles of association. In a vof or professional partnership (maatschap), the death and the partnership agreement may have consequences for continuation or settlement with the other partners. An heir may therefore have an economic interest without independently receiving the keys to the business.
Keep decisions about the business separate from the later family decision about a buy-out. A temporarily appointed director or a power of attorney for necessary payments does not automatically change the inheritance shares. Record who oversees the day-to-day running of the business, who keeps the heirs informed and which decisions are discussed in advance. A concrete succession question may call for action sooner than the valuation of the entire estate.
3. Distinguish between value, debt and control
A property worth € 1 million with a loan of € 800,000 does not represent the same interest as an unencumbered property worth € 1 million. For a business, bank loans, personal guarantees, current account positions, hidden reserves and dependence on the founder can change the outcome. A valuation of the building alone does not tell you what a block of shares is worth.
Agree which asset, which valuation date and which valuation question the expert will investigate. For a let property, the relevant factors include lease agreements, vacancy, maintenance and financing. For a business, cash flows, contracts, risks and the question of whether the business can continue without the deceased also matter. Read the in-depth article on the value of a business in an estate.
A value in the inheritance tax return and a value that the parties use for their mutual division may rest on different purposes and rules. Have a tax adviser assess which tax valuation and return are needed. Do not silently copy one figure into all documents.
4. Dividing an inheritance with a business: only then design the division
There are various routes. One heir continues the business and compensates the others. The heirs hold the shares jointly, provided they make clear arrangements on management, dividend, information and later exit. A property is allocated to one heir with a buy-out, or the property is sold and the net proceeds are divided. With several properties, a combination may work.
A proposal for division must contain more than a table of gross valuation figures. Record which debts and costs are attached to which asset, how rent or dividend already received is dealt with, who can take over the financing, when payments are made and what happens if a bank does not give consent. A transfer of real estate usually requires a notarial deed. For shares, statutory and legal transfer rules may apply. Also investigate the tax consequences before a route is finally chosen.
Fictitious example. Under a will, two sisters and a brother jointly inherit shares in an operating company and a privately owned let property. The brother runs the business, one sister wants to take over the property and the other wants to receive money. A valuation of the property alone does not solve this: the value of the block of shares, the bv’s loan to the deceased, the mortgage, the future operation of the business and the financing of the buy-out are interconnected. They first agree on temporary management arrangements, have the items valued separately and then compare several division scenarios. This example does not predict any entitlements in a real case.
5. Keep tax advice and legal arrangements together
For an active business, the business succession relief (bedrijfsopvolgingsregeling, BOR) may be relevant under certain conditions. According to the Dutch Tax Administration (Belastingdienst), investments fall outside the scheme; a property portfolio therefore does not automatically qualify as business assets. The nature of the activities, the interest acquired and the continuation conditions must be tested separately. Income tax, transfer tax, inheritance tax and a later sale may also affect the net result. An accountant or tax adviser assesses this alongside the civil-law arrangements. Make explicit who bears which tax or advisory costs and what happens if there is a correction afterwards.
Where business premises are held within the bv, a transfer of shares may also work out differently from a transfer of the property itself. Make sure the legal documents describe the same route as the valuation and the tax calculation. An agreement to ‘divide the real estate’ is too vague if the parties involved in fact own shares in a property bv.
Compare scenarios on net result and feasibility
A division may look balanced on paper while only one heir can finance the buy-out. So compare at least: continuation by one person with payment to the others, sale to a third party, and a temporary joint interest with clear exit arrangements. For each route, note the estimated net proceeds, debts, financing, tax questions, lead time and risk for employees or tenants. A higher gross valuation does not automatically beat a lower but feasible offer.
Make arrangements about the information that becomes available with a new valuation or sale and about the moment at which a scenario lapses. Whoever wants to take over the business may need a financing condition; the other heirs may require security and a firm deadline. The file then contains a proposal that can be tested, rather than just a wish to keep the business ‘in the family’.
If the heirs cannot agree
Break the disagreement down. Is it about the size of the estate, access to documents, the valuation date, the value, the management or the final allocation? A different solution may suit each problem: gathering documents, a joint expert, a temporary management protocol, mediation or court proceedings. Record any existing offer and the underlying calculations, so that the difference can be discussed in concrete terms. See dividing an inheritance when there is a dispute.
Frequently asked questions
Does each child automatically inherit an equal share of each property? No. The will, matrimonial property law, the statutory division and the size of each person’s share of the inheritance determine the legal position. An inheritance share is not always a direct ownership right in each individual asset.
Can one heir continue the business? That is sometimes possible through allocation, purchase or another arrangement, but powers, share transfers, financing, co-shareholders and tax conditions must be investigated.
Do we have to sell the inherited real estate? Not automatically. A buy-out or allocation may be possible if ownership, value, financing and arrangements concerning debts are clear. Read buying out or selling inherited real estate.
Is a WOZ value (WOZ-waarde) sufficient? For a number of tax purposes, the law has special valuation rules. For a civil-law buy-out or division, a different substantiated value may be needed. Discuss the purpose and valuation date of the valuation in advance.
Who decides on behalf of the bv after the shareholder dies? That does not follow from inheritance law alone. Check the board, the articles of association, the rules of representation and any shareholder arrangements; seek advice quickly if there are urgent continuity issues.
Put your question to Arslan with a short description of the family relationships, the will, the corporate structure and the properties. Öznur Batur maps the family law context and Onur Arslan the property law and business structure. The interpretation of the will and the powers under inheritance law are assessed separately in the file. Get in touch before a deed of division or binding agreement is signed.
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Sources consulted: Notaris.nl: settling an estate (in Dutch), Belastingdienst: statutory division (in Dutch), Rechtspraak: accepting or rejecting an inheritance (in Dutch), Belastingdienst: business succession relief (in Dutch).
