If you are an heir to a relative who owned movable or immovable property, vehicles, companies, or bank accounts in Bulgaria, understanding how to check and claim these assets is crucial. This guide provides valuable information on how heirs – whether residing in Bulgaria or abroad – can search for and claim the inheritance of assets located in Bulgaria.
- Inheritance Rights for Foreigners
When a foreign national inherits assets in Bulgaria, the process may seem complicated, especially if the deceased had heirs in multiple countries. However, the location of the heir does not exclude their rights to inherit property or assets in Bulgaria. The legal process is the same, whether the heir lives in Bulgaria or another country.
In the most common case, foreign nationals who have settled in Bulgaria (through acquiring citizenship or permanent residency) may have acquired property or assets during their lifetime. However, it’s also possible that a Bulgarian citizen, originally from Bulgaria, emigrated abroad, and their heirs – residing outside Bulgaria – are entitled to inherit property in Bulgaria.
Additionally, some heirs may have had no property in Bulgaria when they left the country, but after their departure, their relatives in Bulgaria may have passed away, and they may now inherit property in Bulgaria. In such cases, the heirs abroad will be entitled to inherit the property.
- Property Research in Bulgaria
The first and most crucial step is to determine what properties, assets, or companies the deceased owned in Bulgaria. A Bulgarian lawyer can assist in conducting a comprehensive search, ensuring that all properties are located, and no asset is overlooked.
- Real Estate: This could include land, houses, offices, apartments, commercial properties, etc. These may be owned personally by the deceased or held through a company or nominee. A lawyer can access various databases and public records to check the full list of properties.
- Companies: If the deceased owned a company in Bulgaria, heirs could either take the place of the deceased in the company or claim a liquidation share (a cash equivalent based on the market value of the company and the heir’s share). Bulgarian companies may also own real estate or other valuable assets, so verifying the company’s holdings through the Bulgarian Commercial Register is important.
- Searching for a Will
Another critical aspect is determining whether the deceased left a will regarding their property in Bulgaria. If there is no will, succession proceeds as specified by the law. However, if a will exists, it can significantly change how the property is distributed among the heirs.
- Types of Wills: A will may be either notarial (officially registered with a Bulgarian notary) or handwritten (private and not officially registered). Notaries in Bulgaria are responsible for opening and declaring wills after a person’s death.
- Legal Assistance for identifying a will: A lawyer can represent the heirs in the process of verifying whether a Bulgarian will exists. In many cases, this can be done without the heirs needing to visit Bulgaria, as a power of attorney can be granted to a lawyer to carry out the procedures on behalf of the heirs.
- Steps in Discovering the Inheritance
The process of discovering and claiming the inheritance begins with a thorough search for the deceased’s assets, starting with real estate records and extending to companies, bank accounts, and other assets in Bulgaria.
- Remote Assistance: Foreign heirs do not need to be physically present in Bulgaria to initiate the search. A Bulgarian lawyer can perform an exhaustive search of property records, companies, and other public registers, gathering all available information about the deceased’s assets. This initial research phase can be done remotely.
- Comprehensive Research: A lawyer can also check for any potential business interests or bank accounts the deceased may have held in Bulgaria, ensuring that all assets are identified.
- Next Steps After Discovery: Registering Heirs and Transferring Assets
Once the properties, companies, or other assets have been identified, the next phase involves registering the foreign heirs as legal heirs and transferring ownership to them.
- Real Estate: If the deceased owned real estate, notarial deeds of title may be issued to the heirs, allowing them to take possession of or sell the properties. The transfer process requires legal formalities, including presenting documents such as death certificates, proof of identity, and possibly marriage certificates or birth certificates.
- Companies: If the deceased owned a company, the heirs can be listed as new partners or shareholders in the company. They can choose to keep the company running, sell the company or shares, or liquidate the company by cashing in its assets and profits.
- Bank Accounts: If the deceased had bank accounts in Bulgaria, the balances can be transferred to the heirs’ foreign bank accounts. This transfer process may require submission of various legal documents to prove heirship.
- The Role of a Power of Attorney
The process of transferring assets and dealing with legal procedures often requires the heirs to be physically present in Bulgaria. However, heirs can simplify the process by granting a power of attorney to a Bulgarian lawyer. This allows the lawyer to handle the procedures on behalf of the heirs, including:
- Registering the heirs with Bulgarian authorities.
- Transferring real estate, company shares, and bank accounts.
- Handling administrative tasks that may require physical presence.
- Required Documents
To initiate the succession process and to be officially recognized as heirs, the following documents may be required:
- Death Certificate: This proves the death of the heir and may need to be translated into Bulgarian.
- Marriage Certificate (if applicable): If the spouse of the deceased is an heir, this certificate is necessary.
- Birth Certificate: This verifies the relationship of the heirs to the deceased.
- Certificate of Heirs: Issued by a competent authority (such as a foreign court or notary) to confirm the status of the heirs.
- Conclusion
Inheriting assets in Bulgaria as a foreign national involves several key steps, including discovering properties, companies, and bank accounts, verifying whether a will exists, and registering heirs. While the process may seem complex, Bulgarian lawyers with experience in succession law can assist in navigating these steps, even without the heirs being physically present in Bulgaria.
By hiring a competent lawyer, heirs abroad can ensure that they fully claim their inheritance, including real estate, companies, and other valuable assets in Bulgaria.
