The answer is yes.
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If the heir agrees to inherit, he needs to inherit the debt while inheriting the property.
If the heir disclaims/declines an inheritance, he does not need to inherit the debt.
If the heirs are to inherit an estate from the decedent, the estate should be used to pay the decedent’s taxes and debts before it’s partitioned.
If the entire estate cannot cover the taxes and debts, they shall be paid to the extent of the estate. And the heirs are not responsible for the remaining taxes and debts.
Heirs who disclaim inheritance assume no responsibility for the payment of such taxes and debts.
The Cross-border Family Matters 101 Series (‘CFM 101 Series’) provides an introduction to China-related cross-border family matters (marriage and succession), and covers the knowledge essential to cross-border family matter management.
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Contributors: Meng Yu 余萌
