特別限定承認制度에 관한 연구

A Study on limited Liability of Successor

Korean Civil code provides that if a predecessor has died. his/her successor takes over not only the property, but also the debt inclusively. Therefore when the debt exceeds the property, the successor must pay the debt through his/her own property. It is beyond the freedom of contract. The successor has a way to evade the risk by wavers ,or restrictive acceptance notification that is allowed within very limited consideration-period. Moreover if the successor makes severe mistake, it is not permitted. On the contrary predecessor's creditor got a business relations with predecessor on the basis of his/her property situation. So the creditor ought to exercise his/her rights up to the limit as is inherited to the successor. Korean Civil code must be revised. It will be the right direction that the successor bears limited liability on the predecessor's debt within the inherited property.