In this article, we highlight and simplify the succession process, the rights of financial institutions in succession proceedings and safeguards that should be taken by the banks when dealing with such succession proceedings and the estates of deceased persons.

General Approach on Death of UAE Resident

In determining the legal position of a deceased person leaving assets (including bank accounts) in the UAE and matters of inheritance, the UAE Civil Code (Federal Law No. 5 of 1985) as amended ( “Civil Code”) and The Law of Personal Affairs (Federal Law No. 28 of 2005) as amended ( “Personal Affairs Law”) are applicable.  

Article 17 of the Civil Code states the following:

• Inheritance shall be governed by the law of the deceased at the time of his death.

• Property rights located in the territory of the state which belong to an expatriate having no heir shall become vested in the state.