There are certain types of properties, rights and interests which can be bequeathed through Will. Each country may have different rules as to what properties can be included in Will and also certain limitations.
This episode focuses on what types of properties can be bequeathed by the testator in the Will.
India –
In India, both immovable and movable properties owned by the testator can be bequeathed through a Will. Any property that is self-acquired or separately owned property of the testator can be bequeathed through Will.
The provisions of the Will shall be applicable in respect of property located in India. For the properties out of territory of Union of India, the testator may need to make a different Will as per the laws of that country.
United Arab Emirates
All wills may cover all assets located in the territory of the UAE including but not limited to real estate property, bank accounts, company shares, local funds, vehicles, cars, yachts, art work etc.
Only the DIFC will can refer to assets abroad i.e. outside the UAE; however, the probate in this case will not include the assets abroad. The DIFC courts will rather issue a certificate that would enable the Executor to submit a legalized version of the DIFC will to the respective authority in charge in the country where the assets abroad are situated.
Malaysia –
A will can include all types of properties. There is no restriction.
Hong Kong –
A will can include various types of properties and assets, such as Real estate (land and buildings), Personal belongings (jewellery, furniture), Bank accounts, Investments (stocks, bonds), Digital assets (depending on specific provisions).
With contributions of
India –
Adv. Sayali Ganu-Dabake, Founder Partner, LexonomiX
Adv. Mrudul Limaye, Associate, LexonomiX
United Arab Emirates –
Elena Schildgen, Senior Partner Lawyer at Meyer-Reumann & Partners.
Malaysia
Sim Wen Yee, Founder & Managing Partner, Messrs Sim &Rahman
Hong Kong
Elsa Law, Elsa Law & Co. Solicitors
Recent Comments