Korean Law in English
Laws › Civil Act › Sub-Section 3 Qualified Acceptance

Civil Act — Article 1034 (Performance by distribution)

민법 제1034조

(1) A qualified acceptor shall, upon the expiration of the period mentioned in Article 1032(1), effect performance to obligees who have notified him of their claims within such period, and to all other obligees known to him or her, in proportion to the amounts of their respective claims of the inherited property; provided, the rights of the obligees who have priority may not be prejudiced thereby.

(2) Where a qualified acceptance is made pursuant to Article 1019(3) or (4), the inheritor shall effect the performance of paragraph (1) by adding up the amounts of the remaining inherited property and the inherited property already disposed of; provided, the amount of performance which is already effected to obligees in inheritance or testamentary donees before such a qualified acceptance is made shall be excluded from the amount of the property which has already been disposed of. <Added on Mar. 31, 2005; Dec. 13, 2022>

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