Can administrators of estates in Vietnam receive remuneration for administrating estates?
Can administrators of estates in Vietnam receive remuneration for administrating estates? Can administrators of estates in Vietnam mortgage estates that they are administrating? Who are not entitled to inherit in Vietnam?
Hello Lawnet. My parents have 5 children. My parents died and left behind a 1,000 square meter plot of land and a house. The property is divided equally among the 5 children. I am the youngest child, so my older siblings let me live on the land and gave me the responsibility of administrating the inherited property. A m I entitled to any remuneration for administrating the inherited property? In case I need capital to start a business, can I mortgage the house I inherited that I am currently administrating?
Thank you!
Can administrators of estates in Vietnam receive remuneration for administrating estates?
Pursuant to Article 618 of the Civil Code in 2015 stipulating rights of administrators of estates as follows:
1. An administrator of an estate as provided in clauses 1 and 3 of article 616 of this Code has the following rights:
a) Represent the heirs in dealings with any third parties in relation to the estate of inheritance;
b) Receive remuneration as agreed with the heirs;
c) Receive payment of costs of estate preservation.
2. A person possessing, using or managing property within an estate as provided in Clause 2 of Article 616 of this Code has the following rights:
a) Continue to use the estate as agreed with the deceased in a contract or with the consent of the heirs;
b) Receive remuneration as agreed with the heirs;
c) Receive payment of costs of estate preservation.
3. If the estate administrator fails to reach an agreement on the remuneration with the heirs, he/she shall be entitled to receive an appropriate remuneration.
As regulations above, in the event that you are appointed by your siblings to administer the common inherited property, you will be entitled to remuneration in accordance with an agreement with your siblings.
Can administrators of estates in Vietnam receive remuneration for administrating estates? - Source: Internet
Can administrators of estates in Vietnam mortgage estates that they are administrating?
Pursuant to Article 617 of the Civil Code in 2015 stipulating obligations of administrators of estates as follows:
1. An administrator of an estate as provided in Clauses 1 and 3 of article 616 of this Code has the following obligations:
a) Make a list of the property within the estate and collect any property belonging to the estate of the deceased which is possessed by others, unless otherwise provided by law;
b) Take care of the estate and do not sell, exchange, give, pledge, mortgage or otherwise dispose of property within the estate without the written consent of the heirs;
c) Notify the heirs of the estate;
d) Compensate for any damage if the administrator breaches any of its obligations, thereby causing damage;
dd) Deliver back the estate at the request of the heirs.
2. A person possessing, using or managing property within an estate as provided in Clause 2 of Article 638 of this Code has the following obligations:
a) Take care of the estate and do not sell, exchange, give, pledge, mortgage or otherwise dispose of property within the estate;
b) Notify the heirs of the estate;
c) Compensate for any damage if the administrator breaches any of its obligations, thereby causing damage;
d) Deliver back the estate as agreed with the deceased in a contract or at the request of the heirs.
As regulations above, if you are entrusted by your siblings to administer the common inherited property, you are not allowed to mortgage the property you are administering at banks to borrow capital. In the event that your siblings agree to let you mortgage in writing, you may be allowed to mortgage the inherited property you are administering.
Who are not entitled to inherit in Vietnam?
Pursuant to Clause 1 Article 621 of the Civil Code in 2015 stipulating persons not entitled to inherit as follows:
1. The following persons are not entitled to inherit:
a) Persons convicted of having intentionally caused the death of or harmed the health of the deceased, of having seriously mistreated or tortured the deceased, or of having harmed the honor or dignity of the deceased;
b) Persons having seriously breached their duty to support the deceased;
c) Persons convicted of having intentionally caused the death of another heir in order to obtain all or part of the entitlement of such other heir to the estate;
d) Persons deceiving, coercing or obstructing the deceased with respect to the making of the will, or forging, altering or destroying the will in order to obtain all or part of the estate contrary to the wishes of the deceased.
Above are cases of ineligibility to inherit in Vietnam.
Best regards!
