Quote Originally Posted by FAQ View Post
AFAIK .. it depends . For example , if you're living in a house owned by your deceased parent/s but the mortgage is not yet paid-off and according to their will that you will inherit the house , the mortgage will technically be passed to you because you are the new owner of this asset . Yes , you are required to pay for it . If your parents has a life insurance plan that you will get money when they die , it would be smart for you to use that money to pay for the mortgage . But some insurance plans nowadays offers paying off the mortgage and etc. when a person get to an accidental or natural causes death the child/ren won't have inherit any pain-in-the-arse debts .

If ever there are assets that are passed to you from your deceased parent/s but not yet paid-off and you can't afford to keep them , you can surrender by foreclosing or sell them .

In conclusion ...
the YES answer = if the parents has no insurance , you're inheriting an asset and its mortgage
the NO answer = if the parents has insurance that will cover any debts .

In the Philippines , it's popular that the family properties are passed on to next of kin since the Spanish Era so some people won't experience any of mortgage , debt inheritance , deal with debt collectors and etc . Other than that , too bad for ya . You're lucky if your deceased parent/s still have enough money on his/her bank account to pay off the loans and the rest will be distributed among family members .

It gets complicated when dealing with the deceased unpaid income and property taxes , sari-sari store debts , funeral costs and etc ...

It would be better to speak to a lawyer on this to have a sure answer .
You have a point but debts are never inherited. The burden usually here is the lack of liquid savings of the beneficiaries to pay estate taxes. That way, they look on it as debt.