What is the “renunciation of inheritance”?

Renunciation of inheritance means that the heir refuses to inherit all of the inherited property including debts.
In order to renounce inheritance, the heir must make a statement to the family court within three months from the date on which he/she became aware of the commencement of inheritance.
Unlike renunciation of legally reserved portion, renunciation of inheritance cannot be done before the commencement of inheritance.
Also, as a general rule, once you renounce inheritance, you cannot withdraw it, so you need to be careful.