inheritance vs heirloom

inheritance and heirloom both are nouns.

Word	Noun	Adjective	Verb	Adverb
inheritance	Yes	No	No	No
heirloom	Yes	No	No	No

As nouns, heirloom is a hyponym of inheritance; that is, heirloom is a word with a more specific, narrower meaning than inheritance:

inheritance: that which is inherited; a title or property or estate that passes by law to the heir on the death of the owner
heirloom: something that has been in a family for generations

Other hyponyms of inheritance include primogeniture, borough English, accretion, bequest, legacy, birthright, patrimony, devise.

inheritance (noun)	heirloom (noun)
hereditary succession to a title or an office or property	something that has been in a family for generations
any attribute or immaterial possession that is inherited from ancestors	(law) any property that is considered by law or custom as inseparable from an inheritance is inherited with that inheritance
(genetics) attributes acquired via biological heredity from the parents
that which is inherited; a title or property or estate that passes by law to the heir on the death of the owner