Research On Construction Of Heritage Bankruptcy System In Our Country

With the economy development of our country, personal wealth accumulation has been constantly increasing, and heritage is becoming a more and more complex problem after the natural person’s death. China’s Inheritance Law promulgates in1985,and the law is in favor of protecting the interests of the inheritance because of Chinese national conditions, which is consistent with the purpose on construction of our country’s endowment nursery type society. But there are too few regulations about heritage protection of creditors interests, and especially the law only sets limited inheritance principle, which is lack of effective legal settlement on conflict case between the inheritance and heritage creditors interests in the judicial practice. On the other hand, the applicable scope of Enterprise Bankruptcy Law is too narrow, and only for the enterprise legal person, however, bankruptcy legislation accepts the general bankruptcy, which is international practice so far. The Bankruptcy Law is lack of both bankruptcy system of natural person and related content on system of inheritance bankruptcy, which is a big blank of current Bankruptcy LawSystem of inheritance bankruptcy mainly refers to a system that Court starts the bankruptcy procedure after the related interest people’s application when the heritage of the decedent is not enough to pay off all the debts or insolvent, and meanwhile the heritage has one of the following circumstances:no inheritance, the limited inheritance or the abandon inheritance. Through the concept of heritage bankruptcy, we can conclude that the system of heritage bankruptcy refers to two legal systems of inheritance law and bankruptcy law at the same time, and so that the nature of the system of heritage bankruptcy has double attribute of both inheritance law and bankruptcy law.In view of problems of the Inheritance Law and Bankruptcy Law, and the important role of the system of heritage bankruptcy, the establishment on the system of heritage bankruptcy can solve the problem and fill the legal gaps. My paper puts forward the concept and construction of heritage bankruptcy system, by discussing the basic theory of the system of heritage bankruptcy, the analysis of other countries and regions’heritage bankruptcy legislation,the necessity of establishment and the specific system designment on China’s system of inheritance bankruptcy, to solve the existing problem of the Inheritance Law and Bankruptcy Law.The establishment on the system of heritage bankruptcy can achieve three results:it can provide a clear legal provisions for discharging legacy debt, which can realize the balance of interests conflict between the inheritance and heritage creditors, meanwhile it will solve the problem of our country’s legal system that is not perfect enough, which is an inevitable requirement to improve the legal system and build a socialist country ruled by law, and it can also make the legal system of our country further adaptable with international situation, and promote the modernization and globalization of our country’s legal system because globalization has become an important trend of the development of international law.