Is a house that is being paid for in installments considered an inheritance?
(Baonghean.vn) - Ms. NMH from Vinh City asks: Her relative bought a house and was paying installments. However, before completing the payments, her relative died in an accident. Ms. H asks: Is the house that her relative was paying installments for considered an inheritance?
Reply:
Article 612 of the 2015 Civil Code stipulates that inheritance includes: the deceased's separate property acquired during their lifetime, such as marital property, property received as a gift, or inherited separately; and the deceased's property held jointly with others, i.e., the deceased's property along with other co-owners, such as the deceased's property within marital property or their share in the family's land use rights. It can be seen that any property owned by the deceased is considered inheritance. If the deceased left a will, the inheritance will be distributed according to the will. If there is no will, or the will is invalid, the inheritance will be distributed according to the law based on the deceased's line of inheritance. Therefore, your relative's house, even if it is still being paid for in installments, is still considered inheritance.
If, before their death, your relative left a will regarding this house, then the heir named in the will will carry out the deceased's wishes. If the deceased did not leave a will, then the inheritance, including the house that is currently being paid for in installments, will be divided according to the law.
Clause 2, Article 125 of the 2014 Housing Law stipulates that if the buyer dies while the installment payment period is still in effect, the legal heir shall continue to exercise the rights and obligations of the deceased in paying for the house. After paying the full purchase price to the seller, the heir will be issued a Certificate of Ownership of Housing by the competent authority in the name of the heir. The fulfillment of the deceased's financial obligations shall be carried out in accordance with Article 615 of the 2015 Civil Code.
Besides the option of purchasing a house through installment payments or deferred payments as stipulated in Article 125 of the 2014 Housing Law, there is also the option of purchasing a house through bank installments. Regardless of the method, a house being paid for in installments is considered an inheritance. However, the distribution of an inherited house that is being paid for in installments requires consideration of each specific case to ensure a fair solution.
