The inheritance debts, besides referred to as hereditary obligations, are all financial debts left by the deceased individual who must be regulated by his heirs. The heirs are so liable for their property and another inheritance obligations, specified as burial costs or inheritance procedures. The inheritance debt besides includes the work to pay off the holding.
It is worth noting that each heir, both statutory and testamentary, has six months to decide whether to accept or reject the inheritance after receiving notification of his inheritance. Rejection of inheritance means full liberation from inheritance obligations. On the another hand, if a decline is accepted, the way it is accepted determines the degree of liability for debts. The decline with the benefit of the inventory limits the liability of the heir to the value of the assets of the inheritance indicated in the inventory or inventory list. The adoption of the inheritance, on the another hand, involves full liability for inheritance debts.
The order of repayment of inheritance debts shall be governed by legal provisions, in accordance with Article 1025 of the civilian Procedure Code. Where the value of the inheritance assets is lower than the value of the debts, the inheritance debts should be repaid in the following order:
- Enforcement costs.
- Maintenance claims.
- Claims for work for the last 3 months up to the minimum remuneration laid down in the legislation, and pensions for damage, incapacity for work, disability or death, and for the ceremony of the debtor.
- Claims secured by mortgage or privilege on a seagoing vessel.
- Claims secured by mortgage, lien, registered lien, taxation lien or enjoying statutory precedence, and rights attaching to immovable property prior to the initiating or filing for enforcement.
- Job receivables not satisfied in 3rd order.
- Claims covered by the provisions of the taxation Code, if not met in the 5th order.
- Creditors who have taken up execution.
- Other claims.
The order of repayment may besides depend on whether there are creditors already executing. If so, they should be repaid first. Further creditors should be satisfied according to the order of notification if the assets of the inheritance licence it.
As regards the limitation period for inheritance debts, it is six years since they were created. If the creditor does not take any action within that period, the debts are subject to limitation. However, it is worth noting that not all debts are subject to this mechanism, specified as alimony or the equity of mortgage loans.
Dear reader, we remind you that all legal matters in this substance we compose about can be complicated and frequently require the aid of a lawyer. It's worth discussing it with a lawyer before taking legal action.
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Daniel Głogowski
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