Dark Magic Inheritance is a Quick-Play Spell Card.
Spell Cards are usually activated from the hand on your turn unless their type gives another timing window.
On the current TCG and OCG Forbidden & Limited lists tracked here, Dark Magic Inheritance is Unlimited.
YGOPRODeck lists Dark Magic Inheritance for these formats: Duel Links, Common Charity, TCG, OCG, Master Duel.
Dark Magic Inheritance belongs to the Dark Magician archetype—use that tag when searching for engine pieces and tech options.
A listed print of Dark Magic Inheritance appears in Legendary Dragon Decks (LEDD-ENA18) at Common rarity.
Among markets shown on this page, the lowest listed snapshot for Dark Magic Inheritance is about $0.45 on Cardmarket (prices change frequently).
