Inheritance is not only about property, but also about debts. If the deceased left debts, they pass to the heir – but the law also sets clear limits so that the heir is not liable for the entirety of his or her own assets.
Inheritance is not only about property, but also about debts. If the deceased left debts, they pass to the heir – but the law also sets clear limits so that the heir is not liable for the entirety of his or her own assets.
Under the Civil Code, you are liable for the debts of the testator only up to the value of the inheritance. In other words: if you accept the inheritance, you are liable for the debts only for what you inherited. If the value of the debts is higher than the value of the inheritance, the creditors have the right to be satisfied only from the inheritance itself, not from your personal assets. During the proceedings, the notary will draw up an inventory of your assets and liabilities and it is this that determines the extent of your liability.
If you are concerned that the debts exceed the value of the property, you may consider refusing the inheritance – but you must do so within 1 month of being informed of the right to refuse (if you are resident in the Czech Republic). If you do not refuse the inheritance, you are the heir with all the consequences, including liability for debts up to the value of the inheritance. Therefore, it is important to have everything explained in detail during the inheritance procedure and, if necessary, to ask the notary for an inventory of the inheritance.
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