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Inheritance in China

Inheritance in China

Updated on Tuesday 19th April 2016

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Inheritance-in-China.jpgInheritance in China is a legal process by which the close descendants of a deceased person can benefit of his or her life possessions, real or movable assets – such as real estate properties, money and other valuables the deceased may have owned. Valuables can be inherited by the wife or a husband, children or other close relatives – sisters or brothers. Our Chinese lawyers can offer you assistance, if you need legal representation in an inheritance matter
 

Inheritance Assets in China 

 
A person can inherit the assets that the deceased owned in his or her lifetime. According to the Chinese law, the following assets can be passed on to a relative who has the right to succession
 
the income,
the house- including  the objects inside,
forest tree or livestock,
cultural material – such as books or articles,
means of production,
property rights of copyright material or patents,
other properties the decedent may have owned.
 

Notarization of the Inheritance in China 

 
In order to be acknowledged as the person who legally inherits an asset, certain documents must be presented to the notary. Our lawyers in China can explain the inheritance process, if you may need further clarifications and assistance. As a person inheriting an asset, you should know that the ownership will be legally recognized if the following documents are submitted for notarization: 
 
identity certificate of the person who will receive the inheritance,
the decedent’s death certificate, 
the certificate of kinship with the decedent,
information about statutory inheritors in the family,
property ownership certificate – if applicable,
the testament in original – if applicable,
a written agreement (applicable in the case of marital property agreement, signed by the spouses before one’s death),
a waiver of the right to inherit – if applicable,
a notarized power of attorney. 
 
In 2013, the Chinese government has raised the question whether it would be necessary that an inheritance tax should be imposed at the moment of passing the ownership rights, but until now, this legislative provision has not been passed. The law may pass in 2016, and it is expected to trigger beneficial effects on the Chinese economy. Our attorneys in China can offer you more details on the subject and on the economic viability of the inheritance tax
 
If you need legal representation, please contact our Chinese lawyers, who can offer you support on inheritance laws in China
 

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