In addition, if there is a guarantor, even if the lender dies, as a guarantor, he has the responsibility to repay.
1. Disposal of the loan owed by the debtor after his death:
1. If the borrower's relatives or other third parties sign a joint repayment responsibility contract with the lending institution when applying for a loan, the lending institution will require the guarantor to fulfill the guarantee obligation, assume joint repayment responsibility and repay the remaining debts in case of long-term default by the borrower.
2. Without any third party guarantee:
(1) If the borrower chooses the mortgage loan method, then when the overdue time reaches about half a year, the lending institution will generally bring a house auction lawsuit to the court, and the proceeds from the auction will be used to pay off the debts first;
(2) If the family of the deceased repays the loan on his behalf, then after all the loans are paid off, his family can go through the formalities of mortgage cancellation and then keep the house.
3. However, if the borrower originally chose unsecured loans, neither collateral nor third-party joint and several responsible persons were provided, it would be more difficult for the lending institution to recover the arrears, which would generally be treated as bad debts.
Two, after the death of the borrower borrowed usury interest heirs have the obligation to repay?
There is a tradition in China that fathers owe their sons, but now there is no law, so fathers owe their sons. Besides, usury itself is not protected by law
1, China's "Civil Law" does not say that the father's debts are repaid by his father, and personal rights and obligations belong to himself and have nothing to do with others;
2. A person's rights and obligations are born with the life of the party concerned, and the life of the party concerned ends. In other words, people die and debts die. When a person dies, all his rights will end, and so will his obligations, including debts owed to others.
Regarding whether to repay the loan from the credit union, it is necessary to distinguish whether this debt belongs to your father's personal debt or your family's debt. If it is your father's personal debt, then you have no obligation to repay it; However, if your father has property, pay it back with your father's property; If the property has been inherited by the heir, then the heir should pay off the debt. But in particular, if the property is not enough to repay the debt share, then the heir will repay the debt according to the amount he inherited, and the insufficient part will not be repaid, that is to say, the debt still belongs to your father himself;
Article 33 of the Inheritance Law: When the decedent inherits the estate, he shall pay taxes and pay debts according to law, and the taxes and debts shall be limited to the actual value of his estate. The part exceeding the actual value of the estate shall be voluntarily repaid by the heir. If the heir renounces inheritance, he may not bear the taxes and debts that the decedent should pay according to law.
In reality, many children help their parents pay their debts, which makes many friends very confused. In fact, they made a mistake. It's not my parents' personal debt. This explanation is that if debt is used for household expenses, it is classified as household debt. For family debts, every family member has the obligation to repay jointly and severally, so family debts should still be paid.
3. Do you need to pay back the loan owed to the bank after the lender dies?
After the death of the lender, the bank will continue to recover the loan owed according to the actual situation:
1, guaranteed
Banks should recover from their guarantors or guarantee institutions.
2. There is no guarantee
The estate under the name of the deceased shall be used for compensation or the legal heir shall fulfill the obligation of repayment.
3. No guarantee, no legacy
If there is no inheritance in the name of the deceased, the loan will usually be treated as a bad debt by the bank.
The relevant provisions of the inheritance law:
Article 33 When inheriting an estate, the decedent shall pay off the taxes and debts that should be paid according to law, and the payment of taxes and debts shall be limited to the actual value of the estate. The part exceeding the actual value of the estate shall be voluntarily repaid by the heir.
If the heir renounces inheritance, he may not bear the taxes and debts that the decedent should pay according to law.
The above is about how to deal with the loan owed by the debtor when he dies and related issues. I hope these information and steps are clear enough.