When your grandmother dies, you might inherit her tea set. Regardless of her death, you might inherit her sense of humor or rather large nose. To inherit is to receive from a predecessor.
When you are talking about property, inherit is always used to describe something you get after someone else has died. However, there doesn't have to be a death involved to use the word inherit. When you start a new job, you might inherit less than pleasant tasks from the person who had the job before you. You might also quickly inherit their desire to find a new place to work.