When someone dies, their heirs do not only receive the assets: they also take on the debts. That is why, before accepting an inheritance, it is worth knowing what is in it. The Civil Code offers three routes, and which one you choose decides whether you receive an estate or take on a problem.
In this article
The short answer
Debts do not disappear when someone dies: they pass to the estate. If you accept it outright, you are liable for them even with your own money if the assets fall short. If you accept with benefit of inventory, you are only liable up to the value of what you inherit. And if you renounce, you receive nothing but pay nothing either. The key is to decide with the facts in hand and, in the meantime, not to do anything that counts as accepting.
The three options
| Option | What happens with the debts | When it makes sense |
|---|---|---|
| Accept outright | You are liable for all of them, also with your own assets if the estate falls short | When you know the assets comfortably exceed the debts |
| Accept with benefit of inventory | You are only liable up to the value inherited; your own assets stay separate | When there are debts or doubts |
| Renounce | You are liable for none | When debts clearly exceed the assets |
Each heir decides separately: some may accept and others renounce, and some accept with benefit of inventory and others not.
How benefit of inventory works
- It is declared before a notary. If you live abroad, you can do it before the Spanish consul.
- A faithful and exact inventory is made of all assets and debts, with creditors and legatees summoned so they can attend. It starts within 30 days of that summons and ends within another 60.
- Debts and legacies are paid from the estate. Whatever is left goes to the heir; if it is not enough, the heir pays nothing out of their own pocket.
Meanwhile, the estate and your own assets are not mixed, and you keep any claims you had against the deceased (for example, if they owed you money).
You can also ask for the inventory before deciding, in order to «deliberate». When it is finished, you have 30 days to say whether you accept, with or without the benefit, or renounce. If you say nothing, you are deemed to accept outright.
The deadlines that matter
- If you hold assets from the estate (you live in the house, have the keys or the car), you have 30 days from learning you are an heir to request the inventory before a notary.
- If an interested party formally asks you, through a notary, to decide, you have 30 calendar days. If you do not answer, the law treats you as having accepted outright, with all the debts.
- If you hold nothing and nobody has asked you, you can take up the benefit as long as you have not been sued.
Silence does not protect you: if a creditor asks you through a notary and you do not answer within 30 days, you have accepted with all the debts.
Beware of accepting without realising
An inheritance can also be accepted by conduct: acts only an heir would do. Selling something from the estate, using money from its accounts or assigning your share to someone else count as outright acceptance. Mere acts of preservation or provisional management do not, provided you do not act as heir. If in doubt, touch nothing until you have taken advice.
And if you have accepted with benefit of inventory, you can lose it by knowingly leaving an asset out of the inventory or by selling estate assets before paying the debts without the consent of those involved.
How to find out what debts there are
- Loans and mortgages: bank statements and certificates.
- Debts with the tax office, Social Security and the town hall.
- Cards, finance agreements and retention of title on vehicles.
- Guarantees the deceased signed for others, which cause the biggest surprises.
- Open court cases or seizures.
Even with all that, there is no guarantee nothing will turn up later. That is why, when in doubt, benefit of inventory is the prudent option: it protects you even if the debt appears later.
If you renounce
Renunciation is made before a notary and is final. Your share does not pass to your children but to the other co-heirs or whoever the will names. And renouncing «in favour of» a particular sibling is not renouncing: the law treats it as accepting and then giving it away, with the taxes that entails. We explain it in accepting or renouncing an inheritance.
At Equus Capital we look at what the estate really contains, assets and debts, before you decide, and handle the inventory before a notary if needed. The first consultation is free: inheritance services in Valencia.
Frequently asked questions
If I inherit, do I have to pay the deceased's debts?
If you accept outright, yes, even with your own assets. If you accept with benefit of inventory, only up to the value of what you inherit. If you renounce, you pay nothing.
What is accepting with benefit of inventory?
Accepting while limiting your liability to the value inherited. It is declared before a notary and an inventory of assets and debts is drawn up; debts are paid from the estate and your own assets stay separate.
What is the deadline for benefit of inventory?
If you hold estate assets, 30 days from learning you are an heir. If you are formally asked through a notary, 30 calendar days. Otherwise, as long as you have not been sued.
What if a creditor asks me and I do not answer?
If you do not decide within 30 calendar days of the notarial request, you are deemed to accept outright, with all the debts.
Can I accept without realising?
Yes. Selling an estate asset, using money from its accounts or assigning your share count as acceptance. Mere preservation does not.
Can benefit of inventory be lost?
Yes, if you knowingly leave an asset out of the inventory or sell estate assets before paying the debts without consent.
Can I do it from abroad?
Yes. The declaration can be made before the Spanish consul in the country where you are.
If I renounce, do my children inherit?
No. Your share goes to the other co-heirs or whoever the will names.