In Japan, does the family inherit debt of deceased relatives?

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For example, would an outstanding bank loan taken out by a mother be the responsibility of the father or children after the mother dies?

Assume that the loan was not secured against any property and that no one guaranteed the loan.

In Japan, does the family inherit debt of deceased relatives?

You can inherit both positive and negative assets and properties.

If you don't want it, you can declare to waive them. But this means you have to waive either positive or negative inheritance.

And if the loan is for real estate, it is usually protected by insurance. Because Japanese backs are include the insurance cost in the loan. If she died, insurance company pay the debt instead of her.

In Japan, does the family inherit debt of deceased relatives?

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