WHY DEBTS MAY TRANSFER ALONG WITH ASSETS

When a person learns that they are entitled to an inheritance, they most often think about property: an apartment, house, land plot, car, bank account, or business share.

But inheritance is not just property.

Along with rights, the heir may also inherit the obligations of the testator, including their debts.

Many citizens mistakenly believe that all obligations of a person cease upon their death. In reality, this is not always the case. If the obligation is not strictly personal to the deceased, it may form part of the estate and pass to the heirs.

This is precisely what the Civil Code of the Republic of Kazakhstan addresses. It clarifies that the inheritance passes to the heirs as a single whole, at the same moment. This means that heirs receive not only the property and property rights but also the obligations of the testator. Heirs who accept the inheritance are liable for the testator's obligations to the extent of the market value of the property transferred to each of them.

Let us consider a common scenario.

After the father's death, the children formally accept an inheritance consisting of an apartment and a car. Later, it turns out that the testator had an outstanding loan.

The creditor approaches the heirs demanding repayment of the debt.

In such a situation, the heirs are often surprised: "But we didn't take out this loan. Why should we be responsible for it?"

The answer lies in the very nature of inheritance. The heir does not accept a separate, chosen part of the estate — they accept the inheritance as a whole. One cannot accept the apartment but refuse the obligations associated with the inheritance.

However, it is important to understand: the heir is not liable for the deceased's debts with all their personal assets. Their liability is limited to the value of the inherited property. For example, if an heir receives property worth five million tenge, their liability for the testator's debts is limited to that amount.

This is precisely why, before accepting an inheritance, it is essential to ascertain not only the composition of the property but also the potential obligations of the testator. When handling the inheritance case, the notary explains to the heirs their rights and responsibilities, the procedure for accepting the inheritance, the consequences of renouncing it, and the possible risks associated with the testator's debts.

Particular caution should be exercised in situations where the inheritance appears substantial, yet the testator may have had loans, borrowings, obligations to third parties, or other property debts.

Inheritance is not a matter of selecting individual items on the principle of "I'll take this, but not that." It is the transfer of the deceased's rights and obligations to the heirs in accordance with the procedure established by law.

Therefore, the advice is simple: before accepting an inheritance, do not limit yourself to asking what property the testator left behind. Be sure to ascertain whether they had any debts or other obligations. A timely consultation with a notary will help you make a well-considered decision and avoid unpleasant consequences in the future.

Sometimes, it is precisely the understanding that inheritance includes not only property but also obligations that allows an heir to protect themselves from unexpected financial claims.

Oleg POLUMORDVINOV

Zanmedia.kz