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What to do with father's debts

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What to do with father's debts


        

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  • 2024-06-05 20:01:39

    If his father dies and has an inheritance, the debts he owed before his death shall be borne by the heir. The debts assumed by the successor shall be limited to the actual value of the estate. If the successor abandons inheritance, he may not be liable for the debts assumed by the decedent.

    [Legal Basis]

    In Article 1161 of the Civil Code, the successor shall pay off the taxes and debts payable by the decedent according to law to the extent of the actual value of the acquired estate.

    This restriction does not apply to the part exceeding the actual value of the estate that the heir voluntarily repays.

    If a successor waives inheritance, he may not be responsible for paying the taxes and debts that the decedent should pay according to law.

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