Due to the peculiarities of the Chilean legislation, the transfer of inheritance or inheritance rights in Chile is markedly different from common international practice. Owners of real estate and / or other assets in Chile are extremely important to know exactly how inheritance law works in Chile.
The main difference in the Chilean inheritance law is the inability to fully transfer the property to a specific heir. For example, simply by making a will. In this way, the law allows the transfer of only part of the property, up to 25%. The rest should be distributed according to the basic order of inheritance: spouse and children, parents, grandparents, brothers and sisters. Such amendments are made to the legislation in order to protect the interests of children and the general social order.
That is, in other words, you can freely dispose of the transfer of only a part (25%) of your property. In addition, another 25% can go on improving the share of one of the direct heirs (if there is a will). The remaining part of the property must necessarily be transferred to direct relatives. Of course, there are definitions of exclusion in the law, for example, it is possible to deprive an inheritance share in the event of a life threatening coming from one of the heirs.
Even in the case of a will, it cannot limit the interests of direct heirs. If this happened (or for other reasons does not comply with Chilean legislation) – the will is recognized as invalid and direct heirs do not lose the right to a part of the property relying on them.
Therefore, if you wish to transfer property to individuals or relatives. The transfer must be made out either through intermediate structures, for example, by registering certain types of legal entities or by transferring property during life. But even in such cases, incorrectly drafted documents can be challenged or annulled in Civil court.
If you have any questions regarding the drafting of a will or entering into inheritance rights in Chile – Contact Us