As per topic ...
As per topic ...
Why wouldnt it?
If your parents had a house in their name and still owed the bank R500k, the bank isnt going to write off that debt just because your parents die. Harsh maybe, but thats the way it works
No they cannot unless you signed as a surety for your parents' debt
Also known as Wenzdayz on MyGaming
The bank can charge the estate the debt which must be settled prior to the disbursement of the estate to the benficiaries but unless the debt is in the childs name ( impossible as a child cannot be liable for debt by our laws, hence the mandatory guaridan signature etc ) then it could be.
How old a "child" are we talking about? If it's a minor, no however if it's a adult and the "child" aggreed to the debt ie: transfer of bond into childs name, then they can quite easily be liable as the debt is not actually the parents but the childs.
So ... Parent dies with no assets but a heap of debt. Bank attaches debt to children who had nothing to do with the debt. Attaching to the estate (insolvent estate I'd think) would make sense. Attaching debt to children doesn't seem right to me?
A house I can understand, they can take over the house, but a credit card debt?? I would not think so, but I do not know the law.
I actually had this argument once. Not unless you signed surety for the credit card. You are a separate legal entity from your parents. You can't be liable for someone else's debt unless you are a co-signer for a specific debt.
It's really wierd to me that people would think otherwise. If one was liable for your parents they could essentially sell you into a type of slave because of your genetic heritage.