Do you know how inherited debts are paid?

As we have been exposing in our previous articles on legal services, inherited debts do exist. That is why in this text we will explain other important things that are related to this topic.

If you accept an inheritance that comes with debts, you have two options: accept the inheritance as such or accept it for the benefit of inventory. If you don’t know what this means, calm down, we’ll explain it in the next paragraphs:

When you accept inheritance as is

money loan

If you decided on this option, you must make the process of effective possession to receive the inherited assets. At the time this happens, you will also receive the debts, so it will be your responsibility to take care of them, that is, settle them.

Do you know when it is convenient to accept inheritance and debts? As experts in this type of legal services, we tell you that the best time to accept it is when you are sure that the debt will not be greater than the goods received. Here we explain it with an example:

Imagine that you will receive a car worth $ 13,000,000. In addition to that, you will inherit it with a debt of $ 5,000,000 corresponding to the purchase of another car. Should you accept inheritance with that debt? Yes, it is convenient. Why? Because the goods that were received have a value greater than the debt. This will allow you to sell them.

Pay what is owed and keep a little money

money debt

 

In this case the inheritance is also accepted, but with the advantage of inventory, which means that the goods will be paid automatically. In the event that money is missing, that is, that the inherited assets are not sufficient to pay off the debt, it will go there and there will be no need to cover what is missing with your money. We show you as an example:

When you accept inheritance for the benefit of inventory

You received the inheritance of the same car of $ 13,000,000, but this time with a debt of $ 10,000,000. What should you do then? You should not do anything, the creditor will pay the debts with the car and neither you nor anyone else will have to take care of the difference that is missing.

 

 

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