This time, let’s take a comprehensive look at the process for changing ownership in the event of an inheritance.
Savings and Deposits
For savings and deposits, inheritance is completed by visiting the bank to change the account holder’s name. In this case, the necessary documents include the family register, seal registration certificate, the third copy of the will, transaction records for the financial institution account, passbook, cash card, and inheritance tax documents.
Securities
The method of inheritance for listed stocks differs slightly from that for deposits and savings.
In contrast, for securities, the heirs must first open a new account. The inheritance process is completed by transferring all the stocks held by the deceased into that account. For this transfer, procedural documents such as a name change request form must be submitted.
Non-listed Stock
For non-listed shares, the securities company does not hold the shares on its books. In such cases, the company that issued the shares must handle the transfer of ownership. For transfers, you will similarly need to submit documents such as a share transfer request form.
Automobile
When inheriting a vehicle, you can change the ownership by submitting a transfer registration application to the regional transport bureau or similar office that oversees the deceased person’s address. For those who already own a vehicle and do not need to acquire another one, they may dispose of it by scrapping or selling it. However, even in this case, a temporary transfer of ownership to the heir is required.
For processing at the Land Transport Bureau, the Transport Department, branch offices, etc., the following documents are required: family register seal certificate, will, tripartite division document, automobile registration certificate, automobile storage location certificate, transfer registration application form, etc.
Membership Rights
In some cases, golf club memberships or resort hotel memberships held by the deceased may also require a change of ownership. Contacting the relevant party should clarify the procedure. However, some golf club memberships stipulate that the membership ceases upon the member’s death. In such cases, the membership cannot be inherited and will likely be terminated.
Additionally, if the inheritor doesn’t play golf or the golf course is too far away to keep, you should discuss selling it. Be sure to confirm the procedures for that golf course or resort hotel.
Inheritance of Transportation IC Cards
In this cashless era, you may inherit a transportation IC card. In such cases, it’s less about changing the name and more about refunding the remaining balance. A quick search will show you how to do it. Often, services will refund the account balance or electronic money. This is because some cashless payment systems, like the Maehara system, don’t support inheriting the account itself.
Inheritance of Cryptocurrency
Cryptocurrency is often traded through platforms called exchanges or trading platforms. Therefore, the procedures for changing ownership vary depending on the specific exchange or trading platform. For example, it is common to prepare documents such as a death certificate, family register, and inheritance papers, then submit proof of cryptocurrency holdings and complete the necessary applications and procedures. It is best to confirm the specifics directly with the exchange in question.
Summary
As such, the method of inheritance can vary depending on the asset. One reason inheritance procedures can be so challenging is that each item must be handled individually. Let’s tackle each one correctly and manage the process effectively.
