Quick legal advice
Do I have to pay my deceased parent’s debt? Being a relative does not, in and of itself, create such an obligation. However, if you become an heir, the debts may pass to you along with the assets. The decisive factor is whether you renounce the inheritance or exercise the right to an inventory of the estate, which limits your obligation to pay debts to the value of the inherited estate.
The same rules apply to debts inherited from parents as to the decedent’s other debts. Under the Civil Code, you are liable for the decedent’s debts only up to the value of the inheritance you have received. In other words, if you accept the inheritance, you are liable for the debts only to the extent of what you have inherited. If the value of the debts exceeds the value of the inheritance, creditors have the right to satisfy their claims only from the inheritance itself, not from your personal assets. During the proceedings, the notary will draw up an inventory of both assets and liabilities, and the extent of your liability is determined based on this inventory.
You may considerrenouncing an inheritance due to debts, particularly if the liabilities exceed the value of the estate. You must do so within one month of being informed of your right to renounce the inheritance (if you reside in the Czech Republic). If you do not renounce the inheritance, you become an heir with all the consequences—including liability for debts up to the value of the inherited estate. That is why it is important to have everything explained to you in detail during the probate proceedings and, if necessary, to ask the notary for an inventory of the estate.
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