Hi Rinskil,

Discharge only lifts certain restrictions (for example, you can be a Trustee of a Charity, Director of a Company and obtain credit without declaring your status to the lender).

In sequestration, you are under what is known as "Acquirenda" for a period of four years from the date of the award of sequestration.

With regard to acquirenda, it is not when you actually come into the asset, it is when your right to claim the asset crystallised. For example, if a relative passed away during the acquirenda period, and their will left a property to you, this vests in your Trustee, even if you don't actually receive the property until after the acquirenda period ends. You have a duty to inform your Trustee of any changes such as this.

@nm89 Goid afternoon

i have a further question please. I am now 4 years on from date I was awarded sequestration, I know you said I could inherit after 4 years but I have read that my case can be reopened up to five years from date of award so does this mean I could not inherit anything until then? 
Thank you.

@rinskil Hi Rinskil, I need to re-iterate that the relevant date is the date your right to the asset crystallised. If the right to the inheritance arose during the four year acquirenda period (i.e. the person passed away within the four year period immediately following award of sequestration), this forms part of your estate which vests in the Trustee. You must make a full declaration of this to the Trustee.

If the right to the asset arose after acquirenda (e.g. the person died no earlier than four years and one day after the date of sequestration), then you are entitled to keep the asset and the proceeds, regardless of whether your Trustee is discharged.

There are two separate issues - you have asked whether a Trustee re-open the sequestration if this is identified. If your right to the asset arose during acquirenda: Yes they can, this is set out in section 152 of the Act.

The other issue is that concealing assets is an offence. Even if it is not discovered until "too late" for recovery in to the estate, you could still face a penalty.

@nm89 Thank you for your reply.  I have not inherited anything. I am now 4 years since my award was granted and family member was asking. I was just asking if anything happened within the next year (hopefully not) would my trustee be able to reopen my case. My trustee has been discharged. 
thank you.