After a death, the house is initially the focus. In addition, an outstanding loan may exist. For a first overview it is crucial not to equate the visible asset with freely available estate cash. Obtain appropriate inheritance and financial advice in good time; in particular ongoing deadlines must be clarified individually.
Do not derive your own role from the family relationship
First establish which documents regarding succession and possible other parties are available. This article does not decide who is an heir, nor which declaration already has legal effect. Questions about acceptance or renunciation are also not replaced here by a general recommendation.
§ 1967 BGB names the heir's liability for estate debts and includes, among other things, debts originating from the deceased. [BGB1967] Therefore the receipt of a property cannot simply be taken to indicate an exclusively positive asset position. Individual limits to liability and the personal situation require a more comprehensive examination.
Gather loan and security documents as separate records
Secure existing loan agreements, addenda, recent statements, repayment schedules and letters from the bank. Note what is confirmed and what is still missing. A land register amount is not automatically the actual outstanding loan sum; request the appropriate information via the intended authorised channel. This article does not provide instructions on accessing other people's accounts or login data.
With advice, check which ongoing payments exist and how they must be organised until matters are clarified. Do not assume either an automatic payment stop or an automatic complete due payment solely because of the death. The contract, the concrete legal situation and the handling are decisive.
A fictional balance difference
For mere illustration a house value of 300.000 euros and an outstanding debt of 180.000 euros is assumed. The calculated difference amounts to 120.000 euros. This does not examine other estate liabilities nor costs or an actually achievable sale price.
Moreover, even this 120.000 euros is not a sum already held in an account. Anyone who must finance ongoing payments needs a concrete overview of available funds in addition. A sale that may be sufficient later does not replace clarification today.
Create an examination mandate instead of a hasty disposition
Record heir status, a complete list of assets and liabilities, current payment needs and possible deadlines separately. An existing insurance is examined according to its actual terms and beneficiary designation, not simply entered as an automatically debt-relieving sum.
The first goal is a reliable factual file for the responsible specialist offices. Leave open points open and coordinate further declarations or payments on that basis. That way the visible house becomes a comprehensible estate assessment without assuming unexamined liability or immediately available funds.