Inventory of the succession in Egyptian Banks

Inventory of the succession in Egyptian Banks

Inventory of the succession in Banks: The legal heirs of the deceased wish to know the procedures for receiving the inheritance from the bank if the deceased own accounts in the bank. So we will discuss everything you want to know about this topic.

Inventory of the succession in Banks

Inventory of the succession in Banks procedures, for you Procedures for receiving the inheritance from the Bank of Egypt.

Here are the procedures that must be taken for the heirs to withdraw the inheritance from the bank:

Genetics Notification Extract

Inventory of the succession

Inventory of the succession

Some actions need to be done to extract the inheritance and Inventory of the success notification:

  • One of the legal heirs must apply to the President of the Family Court, and it is required that the personal data of the deceased be mentioned in the application, the most important of which is the name of the deceased, the names of the heirs, and the date of death.
  • It is also required to attach the death certificate and the identity card of the deceased with the application submitted by one of the heirs to the President of the Family Court.
  • A request to specify a session to inform the inheritance, informing all the heirs of the date of the session that has been set, knowing that the applicant can attend only and not all heirs must attend.
  • The judge is also interested in hearing the testimony of two witnesses under the confirmation that the persons whose names were mentioned in the application are the legal heirs only.
  • Accordingly, the judge issues the inheritance notification, in which the name of the deceased, the date of death, and the legal shares of the legal heirs are indicated.
  • Thus, the legitimate heirs can extract the inheritance information.
  • After completing the extraction of the inheritance notification to complete all the procedures for receiving the inheritance from the bank, one of the heirs or any person who can act on his behalf must go to the bank and submit a request to inquire about the balance of the deceased person in the bank. Sometimes the heirs do not know the balance of the deceased in the bank, so a request is made to know the property of the deceased and what the heirs receive from it.

Inquiries about the balances of the deceased in banks

To complete the rest of the procedures for receiving the inheritance from the National Bank of Egypt, the legal heirs of the deceased will be able to

In the context of talking about the Inventory of success, To know the balances of the deceased in the banks by doing the following:

  • One of the legal heirs must apply to inquire about the balances of the deceased in the branches of the Central Bank.
  • It is required that the applicant requesting the inquiry submits the inheritance notification to inquire about the balances of the deceased in the bank.
  • A copy of the mechanized death certificate must be submitted, or a copy of the identity card of the deceased person can be submitted.
  • The person applying is required to submit a copy of his card, or his passport, to inquire about the balances of the deceased with banks.
  • In this case, the account is completely liquidated, and the money is distributed among the legal heirs or left if the money is deposited in the bank.
  • Hence, the name of the deceased’s account becomes the name of the deceased’s heirs, and the certificates remain continuous and no one has the right to break them until their term expires.
  • Hence, the name of the deceased’s account becomes the name of the deceased’s heirs, and the deposits remain continuous and no one has the right to break them until their term expires.
  • The legal heirs can follow up on all the transactions that took place on the account, and the heirs can also make a periodic account statement to identify the method of dividing the funds among the heirs.

More about Inventory of the succession in Banks

  • Many legitimate heirs wonder about the procedures for receiving the inheritance from the bank and the methods that can be followed.
  • To obtain the legal inheritance for them, here are the ways to share the money deposited in the banks, and they are:
  •  Breaking the deposit or the certificate and making a legal power of attorney for one of the legal heirs to distribute the money and the remaining proceeds after breaking it in legitimate ways.
  • The possibility of keeping the certificate as it is until the end of the period specified for it, taking into account the division of its returns on the account periodically, and the distribution of funds after the end of the certificate period among the legal heirs.
  • All the legal heirs can contact the bank and make an official argument for the same bank, and divide the money through it.
  •  If none of the heirs contacts the bank, his share remains in the bank in his name.
  • If there is a joint account between the spouses and one of them dies, the second party shall take his share in the account.
  • The second party also shares with the rest of the legal heirs the share of the deceased.

Inheritance notification problems and costs

Inventory of the succession

Inventory of the succession

About Inventory of the success: The process of extracting inheritance notification usually faces several problems that hinder the procedures for receiving the inheritance from the bank, such as:

  • If one of the beneficiaries fails to mention the inheritance in the inheritance information papers. 
  • It is also problematic for a person who is not an inheritor to be mentioned as one of the legal heirs.
  • Falsifying one of the inheritance papers, such as mentioning the name of a legitimate heir when in fact he is not an heir. 
  • There are also cases such as the presence of an unknown son of the deceased who was not mentioned in the inheritance extract papers.
  • It may also appear that one of the beneficiaries of the inheritance is not mentioned in the inheritance notification.
  • The costs of the inheritance notification procedures are limited to the costs of the lawyer’s fees, which he determines according to his experience and reputation at work.

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