What does it mean to inherit the family business?

Inheriting family property is the right of heirs to inherit the decedent's estate according to law.

Inheriting family business is also called inheriting father's business. Inheriting father's business means that parents give their own property (enterprises, shops and other industries with commercial nature) to their children. The child will continue the operation. There are many enterprises in today's society, which are inherited from their parents, because a well-developed enterprise needs several generations of efforts to develop and grow.

The right of inheritance has the following legal characteristics:

(1) is a kind of property right, which can be transferred through inheritance.

② Based on personal relationship. The legal inheritance rules of all countries in the world are determined according to the marriage and blood relationship between the heir and the decedent.

③ The realization of inheritance right must have certain legal facts. The inheritance right stipulated by law is only a kind of expectation right enjoyed by heirs. Only after the legal fact of the decedent's death appears, the right of inheritance becomes a vested right and inheritance begins. In countries that implement the testamentary succession system, it is also necessary to have the legal facts that the decedent made a will.