South KoreaWhat is limited acceptance of inheritance?
Limited acceptance of inheritance in South Korea means accepting an estate only up to the value of its assets — protecting heirs from inheriting debts exceeding those assets.
What the Law Says
Under South Korean law, limited acceptance (also called 'beneficial acceptance') is a formal procedure that allows an heir to accept an inheritance while limiting liability for the deceased’s debts to the value of the inherited assets.
An heir who chooses limited acceptance is not personally liable for debts beyond the estate’s assets. This protects heirs from being forced to pay debts using their own money.
The decision must be made within three months of learning about the inheritance. If the heir fails to act within this period, they are presumed to have accepted the inheritance simply (i.e., fully — with unlimited liability).
All co-heirs must jointly file for limited acceptance. One heir cannot do it alone — if even one heir refuses or fails to join, the option is lost for everyone.
The filing must be submitted to the Family Court with jurisdiction over the deceased’s last residence. The court then oversees the estate’s liquidation and debt settlement according to the limited acceptance rules.
Statutory TextAn heir may accept an inheritance subject to the benefit of inventory, provided that all co-heirs jointly make a declaration to that effect within three months from the time at which the heir becomes aware of the commencement of inheritance.
— Civil Act, s. 1017 — Limited Acceptance
Statutory TextWhere an heir accepts an inheritance subject to the benefit of inventory, the heir shall not be liable for the debts of the deceased beyond the value of the inherited property.
— Civil Act, s. 1018 — Effect of Limited Acceptance
What to Do
Confirm the date you learned of the inheritance — the 3-month deadline starts then.
Consult all co-heirs and agree unanimously to pursue limited acceptance.
Prepare and submit a joint declaration to the competent Family Court within 3 months.
Cooperate with the court-appointed administrator to inventory assets and settle debts within the estate’s value.
Sources
Same Question, Other Jurisdictions
JapanNot legal advice. This article is general information based on publicly available sources, written for educational purposes. Laws change and individual situations vary. Consult a licensed attorney in your jurisdiction before acting on anything you read here. Last reviewed: 2026-06-08.