Accepting a drop with debts or rejecting the whole

8 Sep

Long in the fall are not pleasant. However, when this happens, we need to think carefully about what to do to avoid risking repayment of debt from a family member. What should we remember then?

We do not always get a huge fortune in the fall

debt loan

Sometimes they are long instead, for example, a flat with a mortgage, an unpaid installment loan. Therefore, never before you get acquainted with the case, let’s not take a drop. Otherwise, there is a risk that we will be indebted for many years.

Accept or reject?

debt loan

We can often meet with the conviction that we can either accept the decline in full with debts or we can completely reject it. In the first case, we take over both the assets and debts, which we will have to pay back. In the second, in turn, we renounce the total decline, i.e. we do not receive any property or debts. Then the fall passes to another person according to the will or rules of inheritance.

When we would like to take advantage of these options, we must always think well whether it is profitable for us. Of course, it is very helpful here to know what the debtor’s assets are and what debts he has. On this basis, we will be able to conclude whether rejection or takeover is not possible. Unfortunately, it is not always as simple as it may seem. It happens that even a close person learns unexpectedly that the deceased had considerable debts, which he hid from others.

However, we still have one solution, namely the adoption of inheritance with a limitation of responsibility, which is also determined by the acceptance with the benefit of the inventory.

What is the acceptance of inheritance with the benefit of inventory?

What is the acceptance of inheritance with the benefit of inventory?

Accepting the inheritance with the benefit of the inventory, i.e. with the limitation of liability, consists in the fact that we bear responsibility for any possible inheritance debts only with that property which we will receive in inheritance. When debts are higher than assets, then we do not pay anything. When they are lower, we get the remaining property.

Currently, accepting the inheritance with the benefit of inventory is a “default” option, i.e. we do not have to submit any documents in court to use it. This was the case in the past, which also caused considerable problems when one of the heirs did not reject the inheritance.

Therefore, taking over the inheritance with the benefit of inventory is the best option when we do not know exactly what the testator left us. Of course, before we receive any funds from the inheritance, we must also take an inventory of all debts and assets of the debtor, which also takes time – we can do it on our own or we can use the bailiff’s services.

When in doubt, consult a lawyer

When in doubt, consult a lawyer

As inheritance matters are not straightforward, it is best to consult a lawyer if we have any doubts about the inheritance. Then the specialist will be able to answer all of our questions and advise what the best option will be for us. The lawyer will also help us in preparing the relevant documents.

 

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