Abstract
From the corporation's point of view, it is possible to adjust the
(non-)inheritance of the share according to their needs and wishes, as the statutory regulation is fundamentally default. An exception is a regulation of a joint-stock company and a housing cooperative on the one hand and a social cooperative on the other. Neither a joint-stock company nor a housing cooperative can exclude or restrict inheritance. Inheritance of a share in a social cooperative is prohibited. Unless the articles of association of other business corporations expressly provides the inheritance of shares, shares in a public partnership and a general partner's share in limited partnership are not subject to inheritance and, conversely, a limited partner's share in limited partnership, a limited liability company share, and share in a cooperative which is not a housing or social cooperative are subject to inheritance.
Except for a joint-stock company, an heir may always consider whether he or she wishes to become a member of a business corporation.
If he or she does not want to, he or she can terminate his or her participation or, in the case of a limited liability company, apply to the court to terminate his or her participation unless the articles of association provide for the heir's right to withdraw from the company.
The heir acquires the share upon the death of the testator. Still, he or she becomes a member of the capital business corporation only after he or she proves to the company that he or she has acquired the share, i.e. at the latest, by submitting a court decision on succession. If the share is incorporated in security, it is necessary to submit the security to the company, too.