Debts left by the deceased are inherited along with his property. Only a few years ago, the situation was extremely unfavorable for the heirs, who were responsible for all debts left behind with their property. Now the situation is much better and avoids paying debts left by the deceased. How to reject an inheritance with debts?
What is inheritance of debts?
Since 2015, inheritance of debts is no longer as burdensome for heirs. According to the provisions of inheritance with the benefit of inventory, the heir is currently liable only for debts in terms of the value of the property left by the deceased. In other words, he doesn’t bear any additional costs out of his pocket. This is of course only a theory, because with the inflated value of the drop left, the situation may change. Fortunately, we have a lot of time to think about what to do with inherited debts – the law provides for this up to 6 months.
Paying debts after the deceased
The basic step is knowing the situation. You should get knowledge about the sources of debt and repayment terms. If we decide to accept the inheritance in its entirety, we are now fully responsible for paying off the debt. What about inheritance with inventory? In this situation, we pay debts, but only up to the value of the property left behind. Suppose the deceased left 40,000 debts, a plot and a car with a total value of 20,000. According to the law, in this situation we will have to pay only half of the debt.
How to reject an inheritance with debts?
What to do if you do not want to inherit any debts? We have half a year to visit a notary public and submit a proper application for rejection of an inheritance. In this way, we do not receive any value of the property left behind, but we also have no obligation to pay debts. However, if for half a year we do not visit a notary and decide not to accept or reject the inheritance, the right of inheritance with the benefit of inventory will automatically work.