Hi there, need some help here. I have a passport with a Taiwan citizenship Number but I never went to claim one. My mother passed away and has debt, my father never get a chance to relinquish the debt within 3 months. Now if I purchase a property with a mortgage in Taiwan, am I still responsible for my parents debt? Will the Gov take away my house or my mortgage if I inherit their debt?
Thanks!
to the best of my knowledge, debt can only be taken from the inheritance.
if you buy property with your own money this shouldn’t be a problem.
the creditors can only go after the house your parents had, not your house.
One can also decline the inheritance completely. You are not forced to take over debt of your parents in Taiwan.
Unless an heir explicitly agrees to assume debt in the event of someone’s death (did you do this?) then the general principle is that a dead person has no legal responsibilities and is released from the obligations of debt. OTOH, it may be the case that (depending on what was done with the borrowed money - invested in real estate?) the creditors may have a valid claim on your mother’s estate, which will erode your inheritance.
Ok great thats good to know. Yes I do plan to get a mortgage and use my own $ and under my name. I’m just afraid creditors ex. Banks come after me for my Mom’s debt and freezing my mortgage or house. Thoughts?
No I did not do it. (explicitly agrees to assume debt in the event of someone’s death)
No just debt to the bank but lies with my mother. I am talking about using my own $, getting my own mortgage, and under my name. I just don’t want creditors coming after what I own as a real estate in TW from the previous debt that my parents carried.
Unless they can prove that your mom gave her money to you instead of paying the debt, they have no case.
Don’t worry, that’s not going to happen. Legitimate debt is not inherited.
Great thanks so much!