When the inherited property and the debts are similar, can I limit the scope of inheritance through qualified acceptance of inheritance?

Where the debts exceed the inherited property, or where the debts and the property are similar in size, it is possible to limit the scope of inheritance through qualified acceptance of inheritance.

Qualified acceptance of inheritance refers to a declaration of intent by which an heir accepts the inheritance on the condition that they will repay the decedent's debts and bequests only within the scope of the property received through the inheritance. Through this, the heir does not have to bear debts exceeding the inherited property out of their own property.

To make a qualified acceptance of inheritance, you must file a report with the family court having jurisdiction over the place where the inheritance commenced, within 3 months from the date on which you became aware of the commencement of the inheritance.

In addition, even after the period for accepting the inheritance has passed, where there are special circumstances, qualified acceptance of inheritance can be applied on a limited basis through a special qualified acceptance.

For example, even where you made an unconditional acceptance but new debts were discovered, or where a minor, after reaching adulthood, learns that the debts exceed the inherited property, qualified acceptance of inheritance is possible within the reporting deadline.

Even in a situation where the debts are uncertain, using the qualified acceptance of inheritance system can prevent the heir from bearing unnecessary property burdens, and it is important to comply with the reporting deadline and the procedures.