How to apply for inheritance renunciation and documents | Memorandum | Declaration form | What is limited approval? | period | Procedure | Report deadline 2023
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In order for the first-order heir of a long-term delinquent debtor to get out of the debt-by-association system, he or she must apply for approval for limited inheritance. It is possible to give up inheritance, but in order to prevent the second-tier or lower heirs from inheriting the debt of the deceased debtor, one of the children of the first-tier debtor must apply for inheritance limitation approval, and the remaining children and spouse must give up inheritance. In Korea, a country with a digital powerhouse, an application for approval of limited inheritance can also be filed through electronic litigation. This is a post that long-term overdue debtors and their first heirs, children, who think there is no possibility of resolving their debts during their lifetime, should be aware of.
Inheritance limited approval application: OK alone
The reason why I post about limited approval and inheritance renunciation
The reason why I’m making this post is because the possibility of repaying my current long-term delinquent debt is slim. As expected, it is to be used as a reference material for the first-order heir if I fail to resolve the current delinquent debt and end up voluntarily or naturally. Of course, if you search the Internet even now, there are many materials related to limited inheritance and inheritance renunciation. However, like finding a needle in the sand at the beach, it is very difficult to find real information. If you search with related search terms, you will find at least tens of thousands of pages of data related to limited inheritance and renunciation of inheritance. However, most of the materials are advertising pages for lawyers, judicial scriveners, law firms, etc. that are trying to accept limited approval or inheritance renunciation. As if endlessly running and circling a Möbius strip, it is plastered with sales writing to the extent that it just satisfies your appetite. If there are things that are really helpful even in the same sales writing, most of them are really, almost most of them are just watermelon superficial sales screeching articles that are not very helpful. becomes
If you encounter this situation at an urgent, desperate time, you may miss the important task of ending debt inheritance while wandering around. To prevent this from happening, and to be able to refer to helpful materials at the right time when you really need them, I’m trying to organize them when I have time and spare time in advance. The first purpose of this posting is to organize it as net exhaustive data so that my first-order heirs can apply for limited inheritance and inheritance renunciation by referring to this data when I am not there. I myself also got some peace of mind with the confirmation that I can cut off the involvement of my debt in the line of first-order heirs (in case the debt is not settled until the end) while organizing the materials related to the application for limited inheritance and inheritance renunciation. Sleeping is the second purpose.
Understanding Limited Inheritance Acceptance
Reasons for applying for limited inheritance approval
If the debtor dies without resolving the debt while alive, one of the heir’s children must file an application for acceptance of limited inheritance. It is possible to give up inheritance, but in that case, the debt will be inherited by the next subordinated heir, causing another nuisance. In order to cut off the debts of the deceased ancestor from the line of first-order heirs, an application for limited approval must be made. If there are several first-order heirs, one of them can apply for inheritance limitation approval as a representative, and the rest of the first-order heirs can give up inheritance. In any case, one of the first-order heirs must file an application for acceptance of limited inheritance to prevent the transfer of the debt of the deceased debtor to the heirs below the second-order by association.
<Concept of Limited Acceptance of Inheritance>
The term “qualified acceptance of inheritance” means an expression of intent to accept inheritance on the condition that the heir pays the debts and legacy of the heir within the limit of the property to be acquired by inheritance;
The term “qualified acceptance of co-heirs” means that when there are multiple heirs, each heir may accept inheritance on the condition that he/she repays the debts and bequests of the ancestor based on his or her portion of inheritance within the limit of the property to be acquired according to the portion of inheritance. (Article 1029 of the Civil Code).
“Special acceptance of inheritance” means 3 months from the date on which an heir who has simply accepted the inheritance without knowing within 3 months from the date on which the heir became aware of the fact that the inherited liability exceeds the inherited property, without any gross negligence, knew the fact. It refers to a limited approval within a month. (Article 1019 Paragraph 3 of the Civil Code). In this case, “grave negligence” means that the heir could have known that the inherited debt would exceed the inherited property if he had paid a little attention, but he was negligent and did not know the fact. (Supreme Court 2020.6.10 verdict 2010da7904).
Laws and regulations, such as limited approval reporting procedures
<Method of Limited Approval>
When an heir grants qualified acceptance, he or she must file a report on qualified acceptance with the family court of the place where the inheritance commences, along with a list of inherited property, within three months from the date on which he or she becomes aware of the commencement of inheritance (Article 1019, Paragraph 1 of the Civil Act). (Article 1030 Paragraph 1 of the Civil Act and Article 44 Paragraph 1 Paragraph 6 of the Family Procedure Act).
In the case of special formal approval, within three months from the date on which the heir became aware of the commencement of inheritance without gross negligence on the fact that the inherited obligations exceeded the inherited property, within three months from the date on which the heir became aware of the simple acceptance without knowledge of the fact that the inherited property had exceeded the inherited property. A report of special approval must be filed. (Article 1030 Paragraph 1 of the Civil Act and Article 44 Paragraph 1 Paragraph 6 of the Family Procedure Act).
<Submission of Limited Approval Report>
In order to report limited acceptance or abandonment of inheritance, the following information must be entered and a document signed or signed by the reporter or his/her agent must be submitted. (Article 75 Paragraph 1 of the Family Litigation Rules and Article 36 Paragraph 3 of the Family Litigation Act).
Registration base address, address, name, date of birth of the party concerned, address and name of the agent when requested by the agent
Purpose and cause of claim
year month date of claim
indication of family court
Name and Last Address of the Decedent
relationship with ancestor
The day I didn’t know there was an inheritance
The meaning of limited acceptance or renunciation of inheritance
Attach the certificate of seal impression of the reporter or agent (Article 75 Paragraph 2 of the Rules of Family Proceedings)
In the case of special approval, if there is already disposed property among the inherited property, the list and value thereof must be submitted together. (Article 1030 Paragraph 2 of the Civil Code).
<Acceptance of limited approval report>
The family court shall accept it if there is no error in the description of the report of limited acceptance.
When the family court accepts the statement of limited acceptance, even if the heir has no inherited property or the inherited property is insufficient to pay off the inherited debt, a judgment on the performance of all inherited debts is pronounced. However, since the debt has a nature that cannot be compulsorily enforced against the heir’s own property, in order to limit the enforcement power, the order of the performance judgment specifies the purport that it can only be enforced within the limit of the inherited property.
When the family court accepts a report of qualified acceptance, a written judgment is prepared stating the date of the report and, in the case of a report by an agent, the address and name of the agent. (Article 75 Paragraph 3 of the Rules of Family Litigation).
<Period of Limited Approval>
The heir may give limited approval within three months from the date on which he or she becomes aware of the commencement of inheritance. However, at the request of an interested person or a prosecutor, the family court may extend the period. (Article 1019 Paragraph 1 of the Civil Code).
“Permission for Extension of Period for Limited Approval of Inheritance”
The claimant is an interested party or a prosecutor. (Civil Law Article 1019 Paragraph 1 proviso).
The claim period is within three months from the time when the inheritance is known.
The competent court shall be the family court of the place where inheritance commences. (Article 44, Paragraph 6 of the Family Litigation Act).
“Special approval period” means that, despite the fact that the heir inspected the inherited property before the acceptance or renunciation of inheritance, the heir did not know that the inherited debt exceeded the inherited property within 3 months from the date on which he/she knew that inheritance commenced without gross negligence and was simple. In the case of approval (including cases deemed simple approval pursuant to Article 1026, subparagraphs 1 and 2 of the Civil Act), limited approval may be granted within three months from the date on which the fact is known. (Article 1019 Paragraph 3 of the Civil Code).
If an heir dies within three months from the date on which he/she became aware of the commencement of inheritance without giving limited acceptance or renunciation of inheritance, the period shall be calculated from the date on which the heir became aware of the commencement of his/her own inheritance. (Article 1021 of the Civil Code).
<Effect of Limited Approval>
Even if the report of limited acceptance is accepted, the debt of the ancestor is still valid.
Therefore, when the family court accepts the report of qualified acceptance, even if the heir has no inherited property or the inherited property is insufficient to repay the inherited debt, a judgment on the entire inherited debt is pronounced, and if the heir arbitrarily repays the debt, the repayment is effective. it becomes
However, due to the limited acceptance of inheritance, the heir can repay the debts and bequests of the ancestor within the limit of the inherited property due to inheritance. (Article 1028 of the Civil Code). In other words, since the debt of the ancestor cannot be compulsorily enforced against the heir’s own property, in order to limit the enforcement power, the order of the performance judgment specifies the purport that enforcement can only be carried out within the limit of the inherited property.
<Limited approval and non-extinction of property rights and obligations>
When an heir gives qualified acceptance, the heir’s property rights and obligations to the ancestor shall not be extinguished. (Article 1031 of the Civil Code). On the other hand, if the heir gives simple approval, the ancestor is comprehensively transferred to the heir, so the property of the ancestor and the heir is confused with each other, and the heir has to pay the debt of the ancestor with his own property.
<Liquidation of Inherited Property after Qualified Approval>
①Public notice and peremptory notice to creditors → ②Complete payment to creditors with priority → ③Payment according to the ratio of claims to creditors in general inheritance → ④Performance of testamentary gift
①Public notice and notice to creditors
The qualified acceptor shall, within five days from the date of granting the limited acceptance, publicize the fact of the limited acceptance and report the claim or receipt within a certain period to the general inheritance creditor and the person receiving the testamentary gift. The period must be at least 2 months. (Article 1032 Paragraph 1 of the Civil Code).
In the public notice of claim report, it is indicated that if the creditor does not report within the period, he or she will be excluded from liquidation. (Article 1032 Paragraph 1 of the Civil Code).
The public notice of the claim report shall be made in the same way as the public notice of the registered matters of the court, but it is notified more than once in the daily newspaper. (Civil Law Article 1032 Paragraph 2, Article 88 Paragraph 3 and Non-Contentious Case Procedure Act Article 65-2).
A qualified approver must give notice to each of the creditors known to him or her to report the claim. Known creditors cannot be excluded from liquidation. (Civil Law Article