(1) When a person called to succeed is known and he neither accepts nor renounces the inheritance, the court having jurisdiction over the place of permanent residence of the heir, may, on application from an interested party, cause a notice to be served on him calling upon him to either accept or renounce the inheritance within such reasonable time, not exceeding 60 days, as may be fixed by the Court.
(2) When no statement of acceptance is made nor is any document renouncing the inheritance produced, the inheritance shall be deemed to have been accepted.
(3) If the heir renounces the inheritance, then, without prejudice to the provisions of subsections (4) to (6), the next immediate heirs shall be notified and so on, successively, till no person comes forward to claim the inheritance over the estate.
(4) The creditors of the heir who renounces the inheritance may accept it when it is necessary to safeguard and guarantee the rights of the creditors. The creditors who are subject to a condition precedent or to a specified period may exercise such right when there is just apprehension that waiting for the fulfillment of the condition or for the debt to fall due, is likely to cause them prejudice.
(5) Such creditors have to accept the inheritance within six months from the date of knowledge of the renunciation.
(6) The court shall notify the debtor that the creditors have accepted the inheritance. The acceptance by one creditor enures to the benefit of all creditors.
(7) Upon the creditors of the heir who has renounced the inheritance being paid, the remainder shall devolve on the next immediate heirs, and not on such debtor.
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CHAPTER V Liabilities of the inheritance