legacy
October 10, 2010 | 50,00 EUR | answered by Bernhard Müller
I have recently been appointed as the sole heir. The will specifies that the only daughter should receive the condominium owned by the deceased. The daughter is therefore a "mere" legatee and entitled to a compulsory portion.
However, this condominium is not yet fully paid off and is burdened with a loan that is higher than the current market value of the property. In order to decide whether to accept the inheritance, I need information regarding the following question: If the daughter accepts the legacy, meaning she chooses this condominium, does she also take on the debts burdening the property, or do the debts of the property remain in the "estate" so that I, as the sole heir, would then have to bear them?
Thank you in advance!
Dear inquirer,
In order to determine whether the daughter also inherits the debts attached to the condominium, an interpretation of the will is necessary. Whatever is stated there takes precedence over my answer.
If the will of the deceased cannot be determined through interpretation, then the daughter will also inherit the debts attached to the condominium. Sections 2165 and 2166 of the Civil Code.
However, this is only the case to the extent that these debts are covered by the value of the property. Section 2166 I of the Civil Code.
For example: If the condominium has a value of 100,000 euros and is burdened with a mortgage of 120,000 euros, the daughter will only inherit 100,000 euros of the mortgage. In this example, 20,000 euros of the debt would remain with you as the heir. The value at the time the property is transferred to the daughter, i.e. when the entry is made in the land register, is decisive.
Sincerely,
Bernhard Müller Attorney
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