Does a descendant assume debt? An only child and father is still alive but have not been
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The debts of a departed person are remunerated from that person's estate. Heirs are not responsible.
No. The estate assumes the debt. Heirs do not unless they are coborrowers. However, if the estate's assets must be liquidate to pay sour the debt, there may be zilch left to inherit. If there is any equity of other assets surrounded by the estate, they will go towards paying stale any debts owed by the estate. If there are any assets remaining, then they find distributed. No debt will get passed on by the estate.
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