When a person passes away, their heirs are faced not only with the distribution of properties or money but also with the deceased's outstanding debts. Although the procedures are clear, the situation can become complicated, especially if the assets have not yet been distributed among the heirs.
The process begins with the acceptance of the inheritance, followed by the settlement of the deceased's debts, and then the distribution of the remaining assets. However, there is uncertainty among some beneficiaries about the possibility of losing their right to receive the inheritance.
Inheritance involves the legal transmission of assets, rights, and obligations from a person to their heirs after their death. If the debts are not settled, creditors can seize the inherited assets, which would directly affect heirs who are unaware of the prior debts.
When the inheritance is shared among several siblings or close relatives, creditors may intervene and request to seize the inheritance in a judicial process. If the debts are not resolved properly, heirs might not only lose part of the inheritance but also risk having their own assets affected by the seizure.
It is essential to understand the legal implications when accepting an inheritance, as heirs may be forced to take on responsibilities beyond what they expected if there are outstanding debts. According to Article 1003 of the Civil Code, heirs who accept the inheritance outright assume both the assets and the debts of the deceased, being liable with their own estate if the debts exceed the inherited assets.