SUCCESSION OF PROPERTIES ( INHERITANCE )
Succession of property or inheritance is the passage of an individual's property to one or more recipients according to provisions set out by law, religion and custom or under the terms of a will. Acceptance of inheritance automatically includes the acceptance of prior debts and obligations of the decedent.
Under the Japanese law, there are different ways of handling an inheritance. For example, if a person inheriting a property would according to the law also inherit the decedent`s prior debts and which in this case exceeds the value of the property itself, the heir can choose to decline and not accept the inheritance by submitting a petition in court.
Unfortunately majority of the foreign nationals are unaware of the law regarding succession in Japan and because of the language barrier it is more difficult for them to understand and know what to do. Most of our foreign clients related to succession of properties are spouses of late Japanese nationals whom at the time of death left properties and financial assets.
In cases where there are no wills or any legal declaration drafted before death, the distribution of inheritance will be based according to the law and or the final decision of the rightful heirs.
With the help of our affiliates, we support the preparation of documents for the administration of succession of properties. Please do not hesitate to contact us for