Lawyers, Bank Accounts, Making A Will

[MILKO]

Hi Milko,
Your notary is right. You actually need a will in each country, first your country of residence, secondly, in each and every country that you have assets, leaving a will appertaining to those assets. UK law has no authority over property held in other countries, unless you become bankrupt and then they can apply to the high courts in the relevant country.

Hi Vix thanks for the advice on wills, after reading some of the post's the fee seems a little expensive[500.00], is there a do it yourself will like we have in england or a internet site we could all use as it seems to me that we [if we took it]are being ripped off.
Ian

 

[SuziQ2708]

Hi Vix thanks for the advice on wills, after reading some of the post's the fee seems a little expensive[500.00], is there a do it yourself will like we have in england or a internet site we could all use as it seems to me that we [if we took it]are being ripped off.
Ian

Beware of DIY (post office) wills Ian. We have had a bad experience of one of those in the past and that was in the UK! They don't hold out much in court

This said, £500 is a very high price to pay for a will. Is it really essential if you are legally married and have children? We are purchasing in both of our names and will register the same.

 

[Lsab]

The general concensus seems to be that you do. I'm not sure of the law in Egypt, though they don't follow sharia law as in Saudi for instance but you should check. We're going to make sure that we have wills drawn up.

 

[MILKO]

Beware of DIY (post office) wills Ian. We have had a bad experience of one of those in the past and that was in the UK! They don't hold out much in court

This said, £500 is a very high price to pay for a will. Is it really essential if you are legally married and have children? We are purchasing in both of our names and will register the same.

Hi Suzi, yes we are legally married and buying in both of our names, so we will see,i have just e-mailed the lawyers for a price .
Ian

 

[SuziQ2708]

Hi Suzi, yes we are legally married and buying in both of our names, so we will see,i have just e-mailed the lawyers for a price .
Ian

Let me know how much you're quoted please. If you don't mind that is

 

[vix]

Yes £500 seems incredibly expensive to me, considering that this is the approx fee for a property purchase in Egypt. I havent sorted mine yet, but will do so on the next visit. Noticed quite a few lawyers in the Sekalla area, so thought of getting quotes from there. Good point made by Lsab re Sharia law, but tho Sharia doesnt apply in Jordan, there are still quirks that we can not understand, so we must all ere on the side of caution.

 

[Lsab]

Though many Arab countries don't follow Sharia law they do have a lot of quirks as you say Vix and inheritance can, in some instances, follow very strict guidlines that have their roots in Sharia. You've seen that with Jordan. It could well be very straightforward in Egypt (my husband doesn't know ) but I'm with you Vix, we shouldn't take any chances.

Whoever gets legal advise first, please share it with us all

 

[SuziQ2708]

Writing a Will

Having paid 100% for our 'Off plan' apartment, I am wondering when we should consider writing a Will. I believe we have to write a seperate Will in Egypt as a UK Will does not cover property purchased here, although I am unsure. This said, we haven't got a UK Will sorted out yet either! Being married and having included both of our names on the contracts, I would presume that in the event that one of us died it would be transferred in to the living spouses name, but I understand this is not always the case. We have 4 children and my main concern at the moment is if something happend to both of us, even prior to our apartment being built, what would happen to their inheritence? I am contemplating contacting my Egyptian lawyer regarding this, but thought I would post here first just to see what feedback I receive. Surely I am not the only one with similar concerns?

 

[iain]

Having paid 100% for our 'Off plan' apartment, I am wondering when we should consider writing a Will. I believe we have to write a seperate Will in Egypt as a UK Will does not cover property purchased here, although I am unsure. This said, we haven't got a UK Will sorted out yet either! Being married and having included both of our names on the contracts, I would presume that in the event that one of us died it would be transferred in to the living spouses name, but I understand this is not always the case. We have 4 children and my main concern at the moment is if something happend to both of us, even prior to our apartment being built, what would happen to their inheritence? I am contemplating contacting my Egyptian lawyer regarding this, but thought I would post here first just to see what feedback I receive. Surely I am not the only one with similar concerns?

Hi Suzanne,

The only answer can be to check with an Egyptian solicitor - Have you checked whether Zeiad Yehia has commented this on the legal thread? Worth a search.

Certainly I understand that you need a will in Egypt, but also you can put all likely inheritors on the contract - I know we and others have put our children on them, so that title passes diectly to them (Although "title" is probably the wrong term for Egypt).

Bye the way, I have to say that you really MUST get a will made in UK if you have four children, we only did so a few years back, but having lost a brother-in law in an accident it is a nightmare if you die intestate.

My sister had to sell up as half my Brother in Law's estate was held in trust for the kids intil they reached 18 (I think) which meant the money could only be touched for their eduction.

The will cost £2-300 and was well worth it for peace of mind.

(The solicitor might even give you some free advice on Egyptian property!)

Iain

 

[SuziQ2708]

Hi Suzanne,

The only answer can be to check with an Egyptian solicitor - Have you checked whether Zeiad Yehia has commented this on the legal thread? Worth a search.

Certainly I understand that you need a will in Egypt, but also you can put all likely inheritors on the contract - I know we and others have put our children on them, so that title passes diectly to them (Although "title" is probably the wrong term for Egypt).

Bye the way, I have to say that you really MUST get a will made in UK if you have four children, we only did so a few years back, but having lost a brother-in law in an accident it is a nightmare if you die intestate.

My sister had to sell up as half my Brother in Law's estate was held in trust for the kids intil they reached 18 (I think) which meant the money could only be touched for their eduction.

The will cost £2-300 and was well worth it for peace of mind.

(The solicitor might even give you some free advice on Egyptian property!)

Iain

Hi Iain,

Thanks for your reply. I will contact Zeiad about it, but I'm still awaiting replies from him and others about the purchase and the whole waiting game just gets too much sometimes, so I'll put it on hold for now. It's too late for us to add names on our contracts as we've already signed them and are just waiting for them to be stamped.

We've never made a Will in the UK as we don't own any property here now and all of our savings has gone in to the Oasis Marina project so that just leaves personal effects really.

Working in a major hospital I see awful things happen every day and it certainly does make you more aware.

 

[queenie40something]

Hi all I will post in the legal thread and ask Zeiad for his thoughts and comments and if he can post here.

 

[iain]

Hi Suzanne, yes I understand that much of a will is about assets, but we also wanted to make sure our boys (when they were younger) had guardians that we all wanted rather than just left to the courts or whatever. Well, they're adults now so can do what they like!

It's all a bit morbid really, but better to sort out when in good health (and mind!)

Anyway I'm sure you're going to enjoy your mew place when finished,

Iain

 

[Zeiad Yehia]

Thanks Queenie for referring to that thread.

It is very important to mention the following:

The will, in Egyptian law, is a legal act, suspended until death, and then, the will's prevalent law of the time of death "not of the time of issuing the will" will be the governing law.

The will cannot exceed 1/3 of the deceased testator's assets and capital as a general rule.

Now let's move to the most important part:

In freehold case, a testator CAN issue a will to a beneficiary, given that this beneficiary is not a normal heir "son or daughter for instance", provided that the will shall not exceed 1/3 of the testator's capital and assets AFTER settling any potential debts.

The will, according to the abovementioned rules, MUST be registered in the notary public in order to be effective, especially against normal heirs. It is also crucial that the legatee "will's beneficiary" shall clearly accept the will AFTER the testator's death. Otherwise it is not effective.


In the case of usufruct: It is totally prohibited by civil law "Article 993" that a usufructuary may issue a will on a property subject to the usufruct system. It is rather complicated to explain this but I will try my best and I hope that concerned readers may concentrate with me here:

In the Egyptian civil law, usufruct is known only as a right to utilize a property for the life period of the usufructuary only. Consequently it was obvious from the legislator to prohibit willn on usufruct, since logically the usufruct will be expired as soon as the usufructuary's life ends.

The prime minister, however, has created a very confusing legal situation by granting foreigners 99 years of usufruct on a property, since the 99 years is normally thought to exceed the average person's life period. However the law did not change, and it is still impossible to issue a will on usufruct since the law is still the same, and this is why I am feeling very sorry that some foreigners have paid a lot of money to lawyers in order to write them wills, when I know that they won't be of any use to them according to the usufruct status, but I would prefer to think that whoever wrote that for them was unaware of article 993 of civil law and has only had good intentions.

The solution:

Despite the complicated stuff above, the solution is quite easy; a usufructuary may add their next of kin / legatee wither as joint purchasers or as next of kin in the body of the usufruct contract. Developers "or let's say most of them" are unaware of these complicated issues!!! Consequently, and in pactical cases, the next of kin of a deceased client in 2006 is now continuing his father's usufruct on a property in Nabq bay. The developer was either a decent person, or an unaware person, but in all cases, it is best to include beneficiaries' ames in the usufruct contrct, since the developer's signature on this contract implies approval to all terms and conditions including this. Subsequently the developer's approval becomes the original deed of the next of kin / beneficiary.

I know that this might've sounded complicated to some people. Is there any area of the above that needs explanation?


All the best,

Zeiad Yehia
Solicitor

 

[queenie40something]

Hi Zeiad - thanks very much for that and I think I understand that there is no point in me getting a will to include my property in Nabq. Previously on youradvise I added Paul as well as Amy and PJ to the contract so if anything happens to any of us then the lease is carried on by our children. In time as we pass over and they get older can they add their children onto the lease? Also what happens when the 99 yr eventually runs out?

Thanks again x

 

[Zeiad Yehia]

Dear Queenie,

Yes it was the best solution in your case to include every one you care for within the same contract. After 99 years the prperty returns back to the developer "except for a single case in Sierra where I suceeded to get a certain client a renewability statement, and also a sale pledge in case of laws' change " but however the situation is that it will return back to the developer.

Please note that there is a fee to be paid to the developer in case of resale, utilizing this term, the same fee can be paid o the developer at any point to obtain a new 99 years usufruct contract!

Do you see my point?

All the best,

Zeiad Yehia
Solicitor

 

[queenie40something]

Yes I think so Zeiad. So after we are long gone PJ and Amy can ' sell ' to their children and their children can then apply for a new 99 yr lease ( effectively keeping the apartment in the family with no monies changing hands? )

 

[Zeiad Yehia]

Yes, except for the fees that are to be paid to the developer for renewal. Think about it. What can stop this?

All the best,

Zeiad Yehia
Solicitor

 

[queenie40something]

Thats what I thought Zeiad as long as the fee is paid as per the contract then there is nothing stopping the above.

Thanks for clarifying this issue for us and saving us a few hundred £ xx

 

[Zeiad Yehia]

You're always welcome.

Zeiad

 

[r0ckcrew]

Hi Zeiad,

I would retrospectively like my partner and children to be beneficiaries in my Hurghada apartment in the event of my death.I signed the contract and P.O.A. in my name only.

What would be the best course of action to ensure my partner and children would be legitimate heirs to the property under Egyptian law.


Rgds

Tommy