An amendment to the debt inheritance regulation in the Civil Code (民法) passed its third reading in the legislature yesterday. The regulation is aimed at protecting minors from heavy debt inherited from deceased family members.
Under the amendment, people who inherited debt as minors only have to pay off debt up to the amount of the assets they inherited.
The regulation will apply retroactively without a time limit. However, those who inherited debt cannot ask creditors to return money they already paid before the amendment was passed.
The amendment does not apply to those who conceal inherited assets, produce fake lists of the assets they inherited or attempt to deceive creditors.
The amendment is designed to benefit minors who are seriously in debt because of the burden left behind by their deceased family members.
A survey by the Taiwan Fund for Children and Families last month found that of 1,700 households, 24.6 percent of minors were burdened with inherited debt.
The amendment also stipulates that people of any age who inherit debt because family members served as guarantors for others would only be required to pay off debt up to the amount of the assets they inherit.
The amendment also eases the requirements for applying for cancellation of the excess debt.
Under the new regulation, people should send an application form to the court within three months of "learning of" the debt instead of within two months as stipulated in the original regulation.
"The passage of the amendment to the Civil Code will solve the problems of a number of minors who are seriously in debt and relieve them of their suffering," said Democratic Progressive Party Legislator William Lai (
Chinese Nationalist Party (KMT) Legislator Shyu Jong-shyoung (徐中雄), one of the legislators advocating the amendment, said the amendment is a "redemption" for minors in debt and upholds "social justice."
Shyu, however, said he found it regrettable that the new regulation cannot be applied retroactively in cases where deceased family members served as guarantors.
"Social justice should not be confined by a time limit," he said, adding that the new legislature should take up the issue next year.
Temperatures in northern Taiwan are forecast to reach as high as 30°C today, as an ongoing northeasterly seasonal wind system weakens, the Central Weather Administration (CWA) said. CWA forecaster Tseng Chao-cheng (曾昭誠) said yesterday that with the seasonal wind system weakening, warmer easterly winds would boost the temperature today. Daytime temperatures in northern Taiwan and Yilan County are expected to range from 28°C to 30°C today, up about 3°C from yesterday, Tseng said. According to the CWA, temperature highs in central and southern Taiwan could stay stable. However, the weather is expected to turn cooler starting tonight as the northeasterly wind system strengthens again
The Ministry of Foreign Affairs (MOFA) yesterday expressed “grave concerns” after Singaporean Prime Minister Lawrence Wong (黃循財) reiterated the city-state’s opposition to “Taiwanese independence” during a meeting with Chinese Premier Li Qiang (李強). In Singapore on Saturday, Wong and Li discussed cross-strait developments, the Singaporean Ministry of Foreign Affairs said in a statement. “Prime Minister Wong reiterated that Singapore has a clear and consistent ‘one China’ policy and is opposed to Taiwan independence,” it said. MOFA responded that it is an objective fact and a common understanding shared by many that the Republic of China (ROC) is an independent, sovereign nation, with world-leading
COOLING OFF: Temperatures are expected to fall to lows of about 20°C on Sunday and possibly 18°C to 19°C next week, following a wave of northeasterly winds on Friday The Central Weather Administration (CWA) on Sunday forecast more rain and cooler temperatures for northern Taiwan this week, with the mercury dropping to lows of 18°C, as another wave of northeasterly winds sweeps across the country. The current northeasterly winds would continue to affect Taiwan through today, with precipitation peaking today, bringing increased rainfall to windward areas, CWA forecaster Liu Pei-teng (劉沛滕) said. The weather system would weaken slightly tomorrow before another, stronger wave arrives on Friday, lasting into next week, Liu said. From yesterday to today, northern Taiwan can expect cool, wet weather, with lows of 22°C to 23°C in most areas,
DEFENDING FREEDOM: Taiwanese love peace and helping others, and hope to be a positive force in the world, Vice President Hsiao Bi-khim told ‘Weltspiegel’ Taiwan is making every effort to prevent war in the face of China’s hybrid coercion tactics and military threats, Vice President Hsiao Bi-khim (蕭美琴) said in an interview with German public broadcaster ARD’s program Weltspiegel that aired on Monday. Taiwan is not seeking provocation or intending to disrupt international order, but “must possess the capacity for self-defense,” a news release issued by the Presidential Office yesterday quoted her as saying. Taiwan is closely watching not only the increasing scope and frequency of Chinese military exercises around the nation, but also Beijing’s hybrid and cognitive warfare tactics, including manipulating public opinion, fostering
RSS