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The Division Of Assets Without Wills in Vietnam In the view of Lawyer

the-division-of-assets-without-wills-in-vietnam-in-the-view-of-lawyer

The Division Of Assets Without Wills in Vietnam In the view of Lawyer

As stipulated in Article 624 of the Civil Code 2015, a “Will” is understood as a document expressing an individual’s will to transfer his/her properties to others after his/her death. Usually, the will can be expressed through a certain form (such as written or form). Whereby, the testator expresses his/her will about determining, deciding all or a part of his/her properties to one person or to multiple persons.

Also according to the Civil Code 2015, in case a person leaves an inheritance dead without leaving a will, the inheritance is divided according to the law and the order of inheritance is specified in Article 651 of the Civil Code 2015:

  • The heirs of the same row enjoy an equal inheritance; and
  • The persons in the latter heir may only inherit, if no one in the previous inheritance has died, has no right to inherit, deprived of the right to inherit or refused to receive the estate.

    Procedures for division of inheritance without wills:

  • The first task to be carried out is family gatherings to announce the way of will distribution on the basis of the law (Civil Code 2015); and
  • After you have agreed on the issue of inheritance division, you need to follow the inheritance procedure at organization of notary practice according to Article 58 of the Law on Notary 2014.

    A dossier for procedures for declaration of inheritance comprises:

  • Request for notarizing contracts, transactions;
  • Draft of declaration of inheritance (in case of self-drafting);
  • Copy of identification;
  • Documents proving land use rights and property ownership of the person who left that estate;
  • Documents proving the relationship between the person leaving the estate and the person entitled to the estate in accordance with the law on inheritance;
  • Death certificate (original with a copy) of the person leaving the estate, death notice, judgment of death (original with copy).

    Prescriptive periods: From the time of opening the inheritance, according to the provisions of Article 623 of the Civil Code 2015:

“The limitation period with respect to a claim of an heir for distribution of an estate shall be thirty years regarding immovable property or ten years regarding movable property from the time of commencement of the inheritance. Upon the expiry date of the aforesaid period, the estate shall belong to the estate administrator. In case where there is no estate administrator, the estate shall be dealt with as follows:

  1. It shall belong to the person possessing it as prescribed in Article 236 of this Code; and
  2. It shall belong to the State if there is no possessor prescribed in Point a of this Clause.”

During this period of time, the beneficiaries have the right to initiate a lawsuit to request the division of the inheritance, confirming the inheritance rights with respect to the estate.

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The Division Of Assets Without Wills in Vietnam In the view of Lawyer
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The Division Of Assets Without Wills in Vietnam In the view of Lawyer
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Procedures for division of inheritance without wills: The first task to be carried out is family gatherings to announce the way of will distribution on the basic
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Phuoc & Associates
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