Expert Petkov: debt relief is possible only with inheritance
Abandoning the outstanding loans of the deceased is possible only together with the renunciation of the inheritance. This was told by lawyer Andrey Petkov. The expert emphasized that it is impossible to take the property and not pay the debts.
At the same time, the creditor may require the heir to fulfill obligations in an amount not exceeding the value of the inheritance. It is important to remember that no one can take away a person's property to pay off the debts of the deceased. The creditor can only claim what is left of the debtor directly. If this is not enough, then the loan will simply be written off.
The specialist recalled that the heir can simply become a party to the loan agreement. Then there will be no need to give away the property, and the money on account of the debt will be paid according to the previous payment schedule. The debts of the deceased can also be repaid through insurance, if it was issued upon receipt of a loan.
If the deceased had no heirs or they refused to exercise their rights, then the property becomes escheated and passes to the state. The creditor will collect debts already from state structures.