Inheritance of debts is a nightmare of millions of people, especially if we are talking about situations of inheritance of debts from the deceased, about which we had no idea. So what to do to protect yourself against such an event?
Who corresponds with all the assets, and who only up to the amount of the assets of the estate? We will answer these and other questions in the article below devoted to the inheritance of debts.
How to check if the deceased had debts?
If the heirs know about the existence and amount of the deceased's obligations, the problem is not so serious. It is easy to determine who will repay the debts and in what part, and who will inherit the property after the deceased.
Stairs begin when no one in the family knows how many obligations the deceased person had to pay, or what amount they were. And it is on this basis that a decision is made to accept or reject the inheritance.
Contracts and taxes
If the heirs were in good relations with the testator, they often know what his property situation was, what his debts and debts were. Unfortunately, many people hide the fact of being in debt, which means that after death, the family does not know about the existence of obligations, or does not know their value. In this situation, it is worth looking through all the documents of the deceased.
Perhaps you can find credit and loan agreements, so-called payday loans, calls and reminders to pay, as well as letters from debt collectors.
You should also ask about the arrears in the cooperative or housing association, the electricity and gas supplier, and in the municipality, where we will determine if the deceased has any tax arrears. Please note that you must provide a death certificate to obtain this type of information.
Land and Mortgage Registers
Almost every property has its land and mortgage register. They are public. Knowing the number of the land and mortgage register, we can check it online.
In the first and second sections of the land and mortgage register, we will learn basic information about the property - its location, area, title or perpetual usufruct, as well as about the owner.
In section 3., we will find restrictions on the rights to real estate and personal rights, such as easement or easement.
However, department 4 will be important for us, in which there are mortgages on real estate.
Attention should also be paid to the indications that the property application has been submitted to the court and has not yet been considered.
Such an application could be submitted by a bank, a loan company, the owner of a claim against the deceased, a bailiff, the tax office, ZUS or any other natural or legal person who decided to seek security for the claimant's assets.
You should also be careful about the retroactive effect of an entry in the land and mortgage register. It means that an entry can appear even after the book has been reviewed, and retrospectively.
Debt to the deceased - inventory
An application for an inventory is submitted to the court of inheritance - it is a district court in whose district there are items at the time of opening the inheritance in the hands of the testator. An inventory is made by a bailiff. This is a good way to determine the status of the inheritance, unfortunately expensive.
The regulations state that the fee is 10% of the average monthly bailiff's remuneration for each commenced hour. Currently (10.2017) the average monthly bailiff's remuneration was USD 4,221 gross. 10% of this amount is, therefore, USD 422. That's what we will pay for one hour of bailiff's work. After adding VAT to this amount, we will receive an amount of USD 519.
In the event that the property includes property whose market price must be determined by an expert, we will face additional costs related to the appointment of an expert appraiser. The costs of inventory taking may, therefore, exceed the amount of several thousand. dollars.