Short answer. Not when one of the two carries obligations. Article 955 of the Civil Code says a person given two legacies or devises, one of which is onerous, cannot renounce the onerous one and accept the other. You cannot simply take the free gift and drop the burdened one.
What the law says
The legatee or devisee of two legacies or devises, one of which is onerous, cannot renounce the onerous one and accept the other.
Civil Code, Article 955 — Two Legacies, One Onerous. Read the full provision →
The rule against cherry-picking
Article 955 addresses exactly this temptation. It provides that The legatee or devisee of two legacies or devises, one of which is onerous, cannot renounce the onerous one and accept the other. An onerous legacy is one that comes with a charge or obligation attached. The law will not let you keep the pure benefit while shedding the one that costs you something, when both come from the same testator to you.
When you do have a free choice
The article is not all restriction. It continues: If both are onerous or gratuitous, he shall be free to accept or renounce both, or to renounce either. So where the two gifts are of the same character — both burdened, or both free — you may pick and choose, accepting one and rejecting the other, or taking or refusing both. The limitation bites only in the mixed case, where one is onerous and the other is not.
Inseparable gifts and the compulsory heir
Two further points sit in the same article. If the testator intended the two gifts to be inseparable from each other, you must accept or renounce both together. And a compulsory heir who is also a legatee or devisee has a special latitude: such an heir may waive the inheritance and accept the legacy or devise, or renounce the latter and accept the former, or waive or accept both. These are distinct situations, so identify which one you are in before deciding, and take advice where a gift is burdened or the testator's intention on inseparability is unclear.
It binds you, but only so far
One further point rounds out the rule. It bars you from splitting a matched pair — taking the free gift while shrugging off the burdened one — but it does not compel you to accept anything against your will; you remain free to renounce both. And where you do accept an onerous legacy, the charge attached to it binds you only up to the value of the thing you received, so a legatee is not made to pay out of his own pocket more than the gift is worth. Working out whether the two gifts are truly a mixed pair, and what the burden is worth against the gift, is what settles your options here.