That’s right. If the debts take up all the money, then there is nothing left to inherit. And if there isn’t enough money to pay all the debts, then the debtors go away unsatisfied. In no case do the heirs have any responsibility for the debts.
I should emphasize that this is in countries governed by English common law: the UK, Canada, the US, Australia, New Zealand, etc. I have no idea if it is true in countries following the Napoleonic Code, or anywhere else.
No shit? I was not aware of that.
That’s right. If the debts take up all the money, then there is nothing left to inherit. And if there isn’t enough money to pay all the debts, then the debtors go away unsatisfied. In no case do the heirs have any responsibility for the debts.
I should emphasize that this is in countries governed by English common law: the UK, Canada, the US, Australia, New Zealand, etc. I have no idea if it is true in countries following the Napoleonic Code, or anywhere else.
Oh, you meant paid. By discharged I thought you meant cancelled. Yeah, that’s how I thought it worked.