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How Is It Taking Debt Settlement

In the case of non-existent wills or inheritance agreement, legally inheritance occurs. It divides the heir by classes, which are currently six. Let’s look at how many who inherit and what will happen to the debts of the deceased.

Briefly and clearly about the hereditary classes

The first inheritance class includes children and the husband or wife of the deceased. They have priority in dividing the estate, each of which is the same. In the absence of a child, his children’s share of his inheritance will be equal; the same applies to the offspring of the same ancestor. If the deceased is not a descendant, the second-class rules apply except where the spouse and the deceased are the parents of the deceased and those who have lived with the deceased for at least one year before his / her death in the household and who therefore care for a common household or were dependent on nutrition to the testator. It is worth mentioning that he/she inherits a second-class husband, at least half of his estate is always there. Other siblings, nephews, nephews, newlyweds, cousins, and cousins are also included in the other classes that are used in the event that children, spouse, partner or living parents do not care about the deceased. The aim is to keep the property in the circle of the nearest or even more distant relatives of the deceased and only exceptionally inherited him from the state.

What to do

You will learn about how much and what you will inherit during the estate, where you will also see a list of the total assets left behind by the notary. Assets are acquired and liabilities are debts, with everything from gas and electricity arrears up to the safe deposit box in the bank. It is only at this meeting that the heirs are divided. In general, each of them is entitled to the same share, but it does not have to be that. For example, if the two siblings inherit half of the house, one can “renounce” it and give it to another, either with a substitute or without compensation. But be careful not to let the siblings refuse their share or inheritance, because in that case, the legacy would pass on to the children of the person who rejected it, to the deceased’s grandchildren. That would make things all the more complicated because half the house would have owned the son or daughter of the deceased, and his grandchildren would divide the other half.

And how about those debts

In the circle of relatives of the deceased should stay not only as much of his property, but the family should also take care of possible debt settlement https://dedebt.com/. Previously the heir was responsible for the debtor’s debts up to the value of the acquired property, but newly, if the heir did not apply the reservation of the inventory, he pays the debtor’s debts in full. The potential risk of inheritance having to pay debts higher than the inheritance can be prevented by the so-called reservation of inheritance. If the heir has used an inventory reservation, he/she pays the debtor’s debts up to the amount of the inheritance. It is worth mentioning that it is not possible to reject the debts without, at the same time, disallowing the acquired property, if you do not want to take care of these obligations, then you have to give up the entire legacy.

Inheritors are generally responsible for the debts in their entirety, jointly and severally. This means that they are required to pay one for all and all for one. The creditor may demand full performance or any part thereof on all co-debtors, only on some or any of the co-borrowers. If the co-debtor has paid more than his share, he is compensated by the other co-debtors. The one who receives the inheritance does so unconditionally. It is quite logical that this fact will scare anyone and the legacy will want to reject. But it is always necessary to think properly because the denial of inheritance is irrevocable and valid. If, for example, there is another property in the future for the deceased, you will not be able to think twice about it. You will have enough time to consider carefully, after the final hearing when the lessons of inheritance are present, the monthly period starts to run on whether or not to accept the inheritance. Do not forget to take into account that if you do not comment by the end of the month, the right to deny your inheritance is extinguished.