This is not strictly speaking Harry Potter question but I'd be interested to hear what it is in our world and what differences you think they'll be in the Wizarding world. I don't know any lawyers so would like to ask the lovely people on MNFF.
If the parents were heavily in debt and fled the country with 'of age' children remaining in the country, would these children be responsible for paying back that debt? Also if some money had been set aside for the child for when said child came of age would there be any way the parents could take that money legally or illegally?
Or if the parents fled the country due to committing a crime, would their estate, and therefore debts, pass onto their child along with the estate?
Hope that makes sense- any help would be greatly appreciated. THank you!
I don't think the children would be responsible for the debt unless the parents took it out in their name. The person who is owed the money could feasibly apply to the courts to have the debt paid by the parents selling their possessions and property, but I don't think they could legally make the children pay up.
If the parents had profited from their crime and bought a house with the proceeds then the police can confiscate their possessions. That's a fairly recent law that has been brought in though. The police tend to use it in the case of drug dealers who've fled abroad.
In the wizarding world thinhs could be different. The Ministry has the right to confiscate articles in wills, so perhaps they can confiscate property if the parents abscond.