Inheritance in Hungary: Liabilities for debts
Other than some European legal systems, Hungary foresees only a limited liability of the heirs for debts of the estate.
Heirs are liable for the debts up to the value of the estate. They do not have to pay from their own „purse“.
There are some exceptions though. For one thing the heirs have to finance the expenses of the estate, so all costs arising from the procedure itself, including also the costs of the probate proceedings with the notary. Those costs have to be covered by the heirs themselves, independent of the content and value of the estate.
There is also a certain danger in connection of inheriting real estate in particular. If the real estate is burdened with a mortgage exceeding its value, heirs might be liable for the mortgage. This might occur, if prices for real estate fall over a longer period and stay down. Or if some premises turn out unmarketable.
In any case it is wise to have a competent lawyer check the estate, for example by having insight into the case-file with the notary´s office in charge of the probate procedure.
If you need support in your Hungarian inheritance case, you can get into contact with us here.