Russian heirs are liable for the debts of the deceased only to the extent of the value of the inheritance

MOSCOW, October 1 – RIA Novosti. Russian legislation is based on the principle of universal succession: by accepting an inheritance, a citizen receives not only the assets, but also the obligations of the deceased, Nina Gukasova, director of the FMC program for improving the financial literacy of the population of the Presidential Academy, told the Prime agency.

According to her, loans, mortgages, debts for housing and communal services and taxes are transferred to the heirs. Only obligations associated with the person are not inherited, for example, the right to alimony or administrative fines.

“The main protection for citizens is enshrined in Article 1175 of the Civil Code of the Russian Federation. Heirs are liable for debts only within the value of the property received. If the amount of the debt exceeds the price of the inheritance, the difference is written off - collecting it from the personal funds of relatives is prohibited,” says Gukasova.

There are two ways to avoid problems. The first is to renounce the inheritance within six months. The second is bankruptcy of the estate, in which the debts are discharged from the assets and the remainder is dissolved. The life insurance of the borrower also helps protect the heirs: in the event of his death, the debt to the bank is repaid by the insurance company.