Does the creditor die and the debtor still needs to repay the debt

Updated on society 2024-08-13
2 answers
  1. Anonymous users2024-02-16

    The creditor dies and the debtor needs to be repaid.

    In the event of the death of a creditor, if there are heirs, the debtor's debts shall be returned to his heirs, such as children, spouses, parents, etc. The creditor's heirs can also demand repayment from the debtor through litigation or other means.

    Legal basis:

    Article 1161 of the Civil Code [Principles for Repayment of Taxes and Debts of the Decedent] The heirs shall pay off the taxes and debts that the decedent shall pay in accordance with the law to the extent of the actual value of the inheritance obtained. The part exceeding the actual value of the estate shall not be subject to voluntary repayment by the heirs.

    If the heir renounces the inheritance, he or she shall not be liable for the taxes and debts that the decedent shall pay in accordance with the law.

    Article 1162: [Principle of Priority in Paying Off Taxes and Debts of the Deceased Takes Precedence over the Enforcement of Legacy] The enforcement of a bequest shall not hinder the repayment of taxes and debts that the legatee shall pay in accordance with law.

    Article 1163: [Settlement of Taxes and Debts at the Time of Statutory Succession and Testamentary Succession and Bequest] Where there is both statutory inheritance and testamentary succession or bequest, the legally-designated heirs shall pay off the taxes and debts that the decedent shall pay in accordance with law; The part exceeding the actual value of the statutory inheritance shall be repaid by the testamentary heirs and legatees in proportion to the inheritance.

  2. Anonymous users2024-02-15

    If the creditor dies, the debtor still needs to repay the debt, and after the creditor dies, the creditor's heirs can inherit the creditor's right in accordance with the law. Article 1122 of the Civil Code stipulates that an estate is the legal property left by a natural person upon his death. An inheritance that is not allowed to be inherited in accordance with the law or by its nature shall not be inherited.

    Article 1123 stipulates that after the commencement of succession, it shall be handled in accordance with the statutory succession; If there is a will, it shall be handled in accordance with the testamentary inheritance or bequest; If there is a bequest and maintenance agreement, it shall be handled in accordance with the agreement. Article 503 stipulates that a creditor may refuse to sell a debtor who is in distress and perform its debts in advance, except where early performance does not harm the interests of the creditor. The debtor shall bear the additional costs incurred by the creditor for the debtor's early performance of the debt.

    Article 1122 of the Civil Code provides that an estate is the personal lawful property left behind by a natural person upon his death. An inheritance that cannot be inherited in accordance with the law or by its nature shall not be inherited. Article 1123:After the commencement of succession, it shall be handled in accordance with statutory succession; If there is a will, it shall be handled in accordance with the testamentary inheritance or bequest; If there is a bequest and maintenance agreement, it shall be handled in accordance with the agreement.

    Article 530:Creditors may refuse the debtor's early performance of debts, except where the early performance does not harm the interests of the creditor. The debtor shall bear the additional costs incurred by the creditor for the debtor's early performance of the debt.

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