When did the Chinese property law come into effect?
Chinese property law has existed in various forms for centuries. After the Chinese Communist Revolution in 1949, most land is owned by collectivities or by the state; the Property Law of the People’s Republic of China passed in 2007 codified property rights. Use of property are usually divided into topsoil (田皮) and subsoil (田骨) rights.
What are the rules for land ownership in China?
In China, there is no unified official procedure for the rules on the registration of land-use rights and the ownership of property. All interests in land must be recorded in the official government register.
How does an inheritance work in a foreign country?
If a foreigner who owns or has rights to real estate property dies and the inheritance process begins, the laws of the decedent’s home country determines the heirs and the line of succession, as well as the division of the estate and matters regarding the acceptance and rejection of an inheritance.
Are there any countries that have a unified inheritance system?
Countries that adopt a unified system include Japan, South Korea, Taiwan, Germany, Italy, the Netherlands and Brazil in terms of applying their own law, and Switzerland and Denmark in terms of applying the law of the country of domicile. 2) Who inherits what according to Japanese law?
What do you need to know about inheritance in China?
Most of this article will cover Chinese inheritance law, for estate planning in China is still in its infancy, and as yet there are few relevant laws. Inheritance refers to the process of passing the deceased’s estate to heirs or other legatees pursuant to the law, or to the last valid will made by the deceased.
Do you need notarization to inherit real estate in China?
Since 2016, notarization of the right to inherit real estate in China is no longer required. Heirs can directly present documents to the real estate authority to prove their right to inherit. Officials review the documents and decide whether the applicants are entitled to the assets.
Who is the best lawyer for inheritance in China?
This is a guest article by Jason Tian, a senior partner at Landing Law Offices in Shanghai, China. For more than ten years, he and his team have been offering legal services related to inheritance and estate planning for clients from countries outside China. Find more articles about Chinese inheritance law on his blog, www.sinoblawg.com.
Is there inheritance tax or gift tax in China?
Unlike common law countries, China possesses few legal instruments for processing a solid estate plan. But because China does not levy estate or inheritance tax, nor does it collect a gift tax, there is less demand for estate planning, which tends to focus on tax savings.
