When You Should Get Advice
- My brother, a US citizen, is inheriting our parents' property in Korea together with us
- My sibling in Canada does not know what is needed to sign the division agreement
- My father, who had become a foreign national, died leaving land in Korea
- My mother had a foreign bank account and a house overseas in her name
- Living abroad, I am worried I will miss the deadline to renounce the inheritance
Relevant Laws
Act on Private International Law (국제사법) Article 77 (Inheritance)
Inheritance is governed by the law of the deceased's home country at the time of death. However, if the deceased expressly chose, in a form that applies to wills, the law of their habitual residence or, for real estate, the law of the place where it is located, that law applies.
Act on Private International Law Article 78 (Wills)
The form of a will is valid if it meets any one of the following: the law of the testator's nationality, the law of their habitual residence, the law of the place where the will was made, or, for real estate, the law of the place where it is located (paragraph 3).
Act on Report on Real Estate Transactions (부동산 거래신고 등에 관한 법률) Article 8 (Report of acquisition and holding of real estate by foreigners)
A foreigner or similar person who acquires real estate or similar property in Korea by inheritance must report it to the competent authority within 6 months from the date of acquisition (paragraph 2).
Statutes are summarized. The official Korean text is available at the Korea Law Information Center (law.go.kr).
First, Which Country's Law Applies
Who the heirs are and how much each receives is decided by the law of the deceased's nationality at the time of death. If the deceased was a Korean national, the Korean Civil Act (민법) applies whether an heir is a US citizen or lives in Japan, and an heir's nationality does not change their share.
If the deceased held a foreign nationality, that country's law applies in principle. However, if that country's law in turn refers back to Korean law, Korean law may apply (Act on Private International Law Article 22), and the deceased may have chosen the law of the place where real estate is located in a will, so each case must be examined.
Overseas Assets Go Through That Country's Procedures Separately
Even after Korean law has decided the heirs and their shares, transferring a foreign bank account or foreign real estate often requires going through a court or agency in that country. Some countries require a procedure in which a court-appointed administrator settles the estate before distributing it, so plan the schedule together with a local lawyer.
Whether a Korean judgment or adjudication on division of the estate is recognized as it is abroad also differs by country. If the overseas assets are large, deciding at the start which country's procedure to go through first reduces costs.
Documents and Deadlines for Heirs Abroad
Korean nationals living abroad usually have their signature on the division agreement or power of attorney authenticated at a Korean embassy or consulate in their country of residence, in place of a certificate of seal impression (인감증명서). Foreign nationals need local notarization plus an apostille or consular confirmation, and a translation, and should also prepare documents showing that their Korean name and the name in their foreign passport belong to the same person.
The 3-month period for renunciation (상속포기) and limited acceptance (한정승인) runs the same way even if you are abroad. Authenticating documents can take several weeks, so consider appointing a representative in Korea by power of attorney or asking for an extension of the period. For acquisition tax and inheritance tax, the filing deadline is extended to 9 months if an heir has an address abroad.
How We Prepare an Inheritance With an Overseas Element
- 1
Confirming nationality and where assets are
We set out in a table the deceased's nationality at the time of death, each heir's nationality and country of residence, and the countries where assets are located.
- 2
Reviewing the applicable law
We look at which country's law decides the heirs and shares, and whether any will is valid in form.
- 3
Deciding on document formats
For each heir, we decide and explain whether they need authentication at a Korean mission, local notarization and an apostille, or a translation.
- 4
Proceedings in Korea
We handle the division agreement, renunciation or limited acceptance, inheritance registration and the report of a foreigner's acquisition of real estate within the deadlines.
- 5
Coordinating with overseas procedures
For overseas assets, we check whether local procedures are needed and decide which documents will carry the Korean outcome over.
Lawyers handling these cases
Hansol Kim Managing Partner
Former prosecutor at the Incheon District Prosecutors' Office, the Ansan Branch of the Suwon District Prosecutors' Office and the Hongseong Branch of the Daejeon District Prosecutors' Office
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Miso Kim Partner
Formerly at Daehwan Law Firm, in-house counsel on the legal team of Wemade Co., Ltd., and Oracle Law Firm
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Frequently asked questions
Does my sibling with foreign nationality also inherit our parents' house in Korea?
Yes. The inheritance of parents who were Korean nationals follows the Korean Civil Act, and an heir's nationality does not affect their inheritance rights. However, a foreigner who acquires real estate in Korea by inheritance must report it within 6 months.
I live abroad. Can I renounce the inheritance without going to Korea?
Yes. A common method is to authorize a representative in Korea with authenticated documents to file with the family court. Getting documents authenticated takes time, so count back from the 3-month deadline and start early.
Is a will written abroad valid in Korea?
The form of a will is valid if it meets the law of the testator's nationality, habitual residence or the place where it was made, or, for real estate, the law of the place where it is located (Act on Private International Law Article 78(3)). A will written in a foreign form can be valid, but carrying it out in Korea may require separate steps such as a court inspection or translation and authentication.