After a person’s death, the right to inheritance arises. Under Spanish law both an individual’s rights and obligations form part of the inheritance. This means that both their assets and debts are inherited.
Right to information on the deceased’s account balances
Following a person’s death, the heirs usually request information of banks where the customer held accounts or products.
For credit institutions to allow the heirs to avail of the deceased’s funds, they must first comply with certain procedures.
Implications of the death of a holder of specific products
The death of a holder of banking products may have various implications during the process of dealing with the estate.