Buying real estate despite debt
Background: Is it worth buying real estate on credit to escape inflation? is used, the real estate is financed with a construction loan. To what extent can I still sell my property despite a foreclosure application? Real estate in separation and divorce. and repayment) money earned with this debt.
Foreign Trap Real Estate Inheritance | inheritance inheritance
Many people are still of the opinion that an inheritance enriches them and gives them a substantial profit, at least from an economic point of view. In certain areas an heir follows the dead and takes over the property rights and duties of the dead. In such a constellation lawyers often only look at the monetary benefits inheritance has for them.
As an heir, one finally has a legal claim to the inheritance of the deceased executor and gets at least a part of it. In particular, if a property is part of inheritance, an inheritance is often associated with property and represents a true happiness to the property owners, if this is possible in view of the death in question. But in reality, it often turns out that inheriting real estate is not necessarily a godsend.
On the contrary, sometimes this turns out to be a real debt trap, which astonishes the lost and sometimes causes them enormous problems. On the one hand, it is the fact that it is a real debt trap. Since, in the course of an inheritance, not only the deceased’s capital but also his debts are obtained, it is imperative anyway to be properly informed about the property. In this case, a review of the land register entry may be useful.
In particular, the real estate sector is often burdened with debt, as it involves large investments with financing needs. If the tester dies before full repayment, he will forfeit the corresponding debts. Real estate inheritance can become a real debt trap for the legacy as they have to pay for all liabilities of the estate.
According to German law, the heiress is liable for the debts of the deceased not only with their inheritance, but also with their private assets. After that, inheritance can call into question everything that has arisen over the years. However, a cautious approach also makes it possible to avoid this debt trap.
Despite the inheritance liability, a real estate discount is not a cause for concern, because even if the testators in principle take on the luck as well as the debts, this does not mean that one necessarily takes the debts of the testator. No one is forced to inherit and settle debts and to cope with the consequences of the debt of the estate, because the legislative organizer, so to speak, offers one the choice.
In this way, you can take over the legacy and enjoy all the benefits of wealth and at the same time take over the payment obligations associated with the good. In contrast, this is not the case with an inheritance proposal, as it completely and completely abandons one’s own genetic material. The insolvency of the community of heirs, unlike an inheritance proposal, does not necessarily lead to a complete extinction of succession.
If the assets of the estate exceed the debts of the deceased, a difference remains after its realization, which can then be distributed to the descendants. In the reverse case, the offspring will remain empty-handed but need not fear that the inheritance will bring them debt. For various reasons, heritage and testator also opt for a waiver of succession.
Despite debt to take the property?
On the one hand, to protect the offspring from a possible debt trap and, on the other, to save large fortunes from decay. In the case of real estate inheritance, however, difficulties often arise in limiting the liability of the testator. Often the mourners have the will to acquire the property of the dead, since there are often many moments.
At the same time, of course, the descendants do not want to deal with the sometimes enormous debt of the estate or a high-mortgage, so that they find themselves in a kind of dilemma. Anyone who turns against inheritance can no longer make claims on the property in question. But also in the context of a Nachlasskredkurs the property does not seem to be attainable, because the fortune is realized, in order to be able to pay off the debts.
The limitation of the liability of the offspring therefore excludes the purchase of the property in the genome. In view of these circumstances, there is usually a situation in which the descendants have to decide whether they want to preserve the property at all costs or to protect themselves from the debt. In any case, before making such and far-reaching decision-making, you should look closely at the stock and find out what assets and debts exist, but you do not have too much time for that, because the Legislative Council sets deadlines for the right to be followed.
Even if many memories adhere to the property in the estate and this has a great emotional value, one must not be led by his feelings in inheritance case, but must endeavor to discuss the matter objectively. However, in order not to get into the debt trap through the inherited property, this is absolutely necessary and indispensable.