Deadline and process
Under Korea's Civil Act, heirs have three months from learning that the inheritance opened to choose simple acceptance, qualified acceptance, or renunciation. Qualified acceptance is filed with the family court with an inventory of estate assets. Once accepted, the heir notifies creditors and settles debts out of the estate. If an heir later discovers, without gross negligence, that debts exceed assets, special qualified acceptance is available within three months of that discovery.
Versus renunciation
Renouncing treats you as never having been an heir, which can push debts to the next in line, such as grandchildren or siblings. That's why families often have one first-tier heir file qualified acceptance. Selling or spending estate assets before filing can be deemed simple acceptance. In the U.S., heirs generally aren't personally liable for a parent's debts; probate settles them from the estate. See also forced heirship (yuryubun). This is general information, not legal advice.
FAQ
- Does it affect my credit?
- Generally no; your own credit is separate.
- What about minor heirs?
- A legal guardian files on their behalf, and special rules apply once they turn adult.
Sources reviewed: 2026-10-26
References
- 「민법」 제1019조·제1028조~제1040조.
- 대법원 전자소송·나홀로소송 「상속한정승인·포기 안내」.
- 윤진수. (2022). 『친족상속법 강의』(제4판). 박영사.