A person’s debts do not cease to exist with death. Although family members are generally not personally responsible for the debts, the rules of bankruptcy apply to insolvent estates and creditors must be paid through the funds in the estate. An insolvent estate happens when the debts of the deceased are greater than the total value of assets.
ABSD is Additional Buyer’s Stamp Duty. This is introduced as part of property cooling measures to cool the hot property market since 2011. This only apply to residential property.
There are other measures such as Seller’s Stamp Duty (SSD), changes to Loan to Value, etc. In order to promote prudent lending and borrowing, there is the TDSR (Total Debt Servicing Ratio) Framework introduced in 2013.