Why you should make a will where you invest in property

From the moment you register your property in a state’s land registry to protect your rights as a property owner, you are subject to that state’s regulations. If the state that rules on your inheritance is not the same as the one governing your property, you can help your heirs by making a will in the state where the property is located.

When you buy a house, you want your property rights to be protected by the law of the land. This is why you register your title to the property in the corresponding land and property registers. In exchange for this protection, you pay taxes. After your death, your heirs will want the same protection, but their title to the property will not be a property deed. It will be an acceptance of inheritance document. This is a document issued by the authorities of a country that may be different from where your property is located.

The differing legal approaches in different countries create the biggest headaches in international inheritances. Who is the heir? What percentage do they inherit? Who has a right to inherit? Such questions can only be resolved by the competent public authorities. As a rule, these are the authorities of your country of residence or nationality. When you have foreign investments, the documents issued by the authorities in your home country have to be interpreted by the authorities in the country where you have assets. This creates additional problems that can be tricky to resolve. You can resolve these problems by making a valid will in the country where your property is located. By doing so, you stop foreign authorities from getting involved in the processing of your estate.

As always, we recommend that our foreign clients, from as soon as they own property in Spain, make a Spanish will to govern their Spanish inheritances as they see fit. Thus, limiting the involvement of non-Spanish authorities in the processing of their estates.

Carlos Prieto Cid – Lawyer

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