If a Peruvian citizen dies and had bank debts, his heirs must know what happens with these obligations. Likewise, the doubt arises whether the bank can keep their savings after his death.
On this, Eduardo Chávez, Legal General Manager of the Peruvian Association of Insurance Companies (Apeseg)gave details about it. Additionally, it is important to know which goods are protected and cannot be seized in case of bank debts.
Citizen dies and had bank debts: what happens?
At the time a person dies leaving outstanding debts, the question arises about who should take care of these financial obligations. According to him Civil Code of Peruhe Judicial Branch He clarified through his social networks that the heirs are not obliged to pay with their own assets, but only with the assets that make up the inheritance.
In this context, the payment of debts is made exclusively with the assets left by the deceased, without affecting the personal resources of their relatives. This is established by articles 871 to 873 of the Civil codewhere it is specified that the obligations of the deceased must be covered with their own heritage. “Heirs must pay debts of the deceased with property of the deceased”you can read in the Articles 871 to 873 of the Civil Code.
Peruvian dies: Can the bank keep its savings?
According to Eduardo Chávez, Legal General Manager of the Peruvian Association of Insurance Companies (Apeseg), banks do not have the power to keep the money of a deceased savers. In order for relatives to access these funds, it is necessary to present an intestate succession or a declaration of heirs. Once this procedure is completed, legal heirs may have the money deposited in the financial institution.
“If you are a bank saver and unfortunately you die, that money is not going to be the bank. What relatives have to do is present the intestate succession, or also called the declaration of heirs, and once the declaration is presented, the legal heirs of the bank will be able to access the money of those who in life maintained their savings”Chávez said.
Chávez explained that insurers provide two types of coverage for bank debts. The most common is responsible for canceling the pending balance in case of permanent disability or death, preventing the debt falls to relatives.
“When you ensure the unpaid balance, if the credit holder dies or is left with permanent and total disability – which does not allow you to generate income – automatically the insurance company takes over the absolute debtor balance and family members do not have to pay anything,” he said.
Due to its highest cost, the second modality is less common and is responsible for protecting the Original credit amount. In case of death or disability of the holder, the insurer issues two checks: one for the bank to cancel the debt and another for the legal heirs with the remaining difference of the initial amount.
“If the person dies or is totally and permanently invalid, and cannot generate income, the insurance company revolves two checks: one in the bank’s name by the balance of the debt and another second check for the difference with respect to the initial amount in favor of the legal heirs of the person,” he explained.
Banking debts: goods that cannot be seized
- Family Heritage: Only two thirds can be seized.
- Personal objects: garments, books and basic foods are protected.
- Work tools and equipment: vehicles, machinery and essential utensils for a trade are unattachable.
- Salary income and pensions: if they do not exceed the five procedural reference units (URP), they cannot be retained.
- Food pensions: they are exempt from embargo.
- Religious goods: Tempo furniture cannot be confiscated.
- Sepulcros: They have legal protection.
- Service time compensation (CTS): It can only be seized up to 50% for food debts.
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Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
