(1) An inheritor to property may, within three months after he or she is informed of the commencement of an inheritance, effect an acceptance, absolute or qualified, or a renunciation; provided, such period may be extended by the Family Court upon the application of any party interested or of a public prosecutor. <Amended on Jan. 13, 1990>
(2) An inheritor may examine the inherited property before effecting such acceptance or renunciation as mentioned in paragraph (1). <Amended on Jan. 14, 2002>
(3) Notwithstanding paragraph (1), where an inheritor has made an absolute acceptance (including cases where an absolute acceptance is deemed made under subparagraphs 1 and 2 of Article 1026; hereafter in this Article, the same shall apply) without knowing the fact that his or her inherited liability exceeds his inherited property (hereafter in this Article, referred to as "fact of inherited liability in excess") within the period under paragraph (1) without any gross negligence, a qualified acceptance may be made within three months from the date on which he or she became aware of such fact. <Amended on Dec. 13, 2022>
(4) Notwithstanding paragraph (1), where an inheritor who is a minor grants absolute acceptance of an inheritance in which the inherited debt exceeds the inherited property before reaching the age of majority, he or she is eligible for qualified acceptance within three months from the date he or she becomes aware of the fact of inherited liability in excess after having reached the age of majority. The same shall also apply where a minor inheritor does not, or is unable to, grant qualified acceptance under paragraph (3). <Added on Dec. 13, 2022>