Dealing with Foreign Assets during the Administration of an Estate
After a person dies, it is crucial to check if the deceased owns foreign property alongside with the assets he owns in the country he domiciled (ie: lived). Generally, the person’s movable property will devolve according to the law of the country where he domiciled, whereas his immovable property will devolve according to the law of the country where that immovable property is located.
- Examples of immovable property are: land, freehold property, long-term leases etc.
- Examples of movable property are: cash in bank accounts, shares, unit trusts, jewellery, car etc.
It is not uncommon to find that a person may own assets in Malaysia and also abroad. In order to enforce a Will overseas, the executor may need to re-seal the grant of probate in a court of the foreign jurisdiction. Resealing of a Grant of Probate simply means the process of obtaining a subsequent authorisation by a Court of a second country after the Grant has been obtained in the Court of first country. For example:
* If you pass away domiciled in Malaysia, but you own houses in Singapore, then your personal representative will have to make an application to reseal the grant of probate in Singapore (in order to deal with your houses in Singapore) after obtaining a grant of probate in Malaysia.
* Alternatively, if your Will is made and proved in Singapore, your executor may apply to the Malaysia High Court to reseal the grant of probate, and then get the permission to distribute your real estate in Malaysia.
Concluding Remarks:
Many a time, resealing a foreign grant of probate is more convenient and cheaper than applying for a fresh grant in that foreign country, especially if the private property is located within a Commonwealth country. However, it is advisable to obtain specific legal advice before dealing with foreign real property because the law governing the Will and administration varies from country to country.
