Who is obliged to pay a loan at the death of the borrower?

Often those who come into inheritance besides the acquired property or other property objects, the debts of the deceased relative also receive. On legal grounds, the lender has the right to demand from the heir to pay debts, which always causes a storm of negative emotions in humans.

But there are cases when you can refuse debts. In our article, we will look at all the nuances of this complex process so that you know what you can encounter.

Not all debts enter the list of those that the heir receives after the death of a relative. So, for example, you do not need to pay alimony. In addition, the fines are also not taken into account in the list of basic, but the debts on utilities are still moving to heirs.

The loan in a microfinance organization, a loan in a bank, as well as in the PDA, becomes the problem of the heir after the death of a relative, as well as the tax delay.

The only way out of such a situation is to give up inheritance. In any other case, it is impossible to avoid payment of debt to financial and credit organizations, just as it is impossible to partially refuse inheritance.

If you know the name of credit institutions where the deceased made a loan, please inform notary. Then he will request data directly to the bank, and you will learn the balance of debt.

If the residual debt on the loan or other loan product exceeds the value of the property obtained inheritance, then you can refuse it.

After the death of a person, the Bank first turns to pay the debt to the guarantor and whether the co-coacher, since these people guaranteed the fulfillment of credit obligations in case the main borrower will stop paying a loan.

The guarantor can compensate for its expenses after the full payment of loan, penalties and fines. He has its own demands to present people who have entered into inheritance. In case those refuse their obligations, the guarantor has the right to apply to court and already in court to recover the cash spent.

Identical situation with the coacher. Since the credit obligations were initially shared on the borrower and the coacher robbed, then the concern will have to answer the bank. An insurance company will suffer another part of the expenses if insurance was previously framed.

As you can see, after the death of a person, credit commitments fall on the shoulders of heirs, co-coaches, guarantors, insurance company, if the loan was insured. You can avoid debt payment only in case of refusal of inheritance, respectively, with the loss of the right to the property of the deceased.

If a minor child becomes the heir, his parents take on all responsibility not only to solve the right to the inheritable property, but also on debts. So if the inheritance is accepted, then the debts are transferred to the parents of the heirs.