What happens to the loan in case of death of the creditor?
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Good day.
According to the inheritance legislation of Ukraine, after a person's death, his inheritance includes not only his rights, but also his obligations.
If the heir had debts, his descendants must compensate them. The law allows creditors to make claims against the heirs directly or through a notary or consul if they are abroad.
The creditor has the right to demand payment of the debt from the heir, if the heir has left debts. The creditor can present his claims to the heir directly or within six months from the day he learned that the heir accepted the inheritance.
If the creditor does not present his claims within the specified period, he loses the right to demand payment of the debt.
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