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Should parents pay back the son who died in debt

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Should parents pay back the son who died in debt


        

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  • 2024-06-17 15:00:01

    In general, parents should not pay back their son's debts when he dies, but it should be clear that if his parents inherit the inheritance, they need to pay off the relevant debts in his inheritance.
    Inheriting an estate shall pay off the taxes and debts that the decedent should pay according to law, and the payment of taxes and debts shall be limited to the actual value of his 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 liable for the taxes and debts that the decedent should pay according to law. In other words, if parents inherit their children's inheritance, they should be responsible for paying their children's debts, which is limited to the actual value of the inheritance; However, those who renounce inheritance shall not be liable for repayment.

    Legal basis

    Article 1161 of the Civil Code of the People's Republic of China [Principle of paying taxes and debts of the decedent] The successor shall pay the taxes and debts that the decedent should pay 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.

    A***

    2024-06-17 15:00:01

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