Following a death, Spanish banking institutions generally freeze the deceased’s bank accounts in order to secure the funds.
The freezing of accounts is intended to prevent any unauthorised transactions until the heirs have been identified. The payment of ordinary expenses linked to the maintenance of a property, such as water and electricity bills, insurance premiums, condominium charges and local taxes, is permitted.
The release of funds requires the production of specific succession documents demonstrating that the estate has been properly regularised.
Depending on the circumstances, certain amounts may also be released to cover urgent expenses related to the death.
The tax residence certificate is the official document used to certify that a person is regarded as tax resident in Spain for a given period.
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When a French national dies leaving real estate, heirs or economic interests in Spain, the succession necessarily involves specific procedures with the Spanish authorities.
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Where a couple is married under a community property regime, the classification of an asset as separate or community property may have significant consequences, in particular in the event of succession, separation or patrimonial disputes.
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