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Succession on Condominium Property

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1 Succession on Condominium Property on Mon Nov 16, 2015 1:35 am

Yano Antonio

Arresto Menor
What should a Foreign Couple do to ensure the smooth transfer of their condominium property to their children upon their untimely death?

The wife has a niece whom she can or would want to assign and take charge of selling the condo unit and send the proceeds to the couple's children.

*** is this possible?
*** will the niece have the legal authority to process the sale of the condo?
*** what is the couple's assurance or how can the couple be assured that the niece can legally process the documents and effect the sale of the condo property?

Does the couple need to draft a holographic will or or present a Special Power of Attorney assigning the niece to take charge of estate tax and the processing and selling of the property

The other option is to assign the niece to process the transfer of ownership of the condo unit to the children

Thank you,


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