Deposit of a Deceased Client

Deposit of a Deceased Client

Upon receiving official notification from the Civil Registry Office, a notary, relatives, or other persons about the death of a client, credit financial institutions (banks) temporarily restrict access to the deceased client's account. However, interest on the deposit continues to accrue in accordance with the terms of the deposit agreement until the funds are paid out.
A deceased person's deposit, like any other property, is inherited in accordance with the legislation of the Republic of Tajikistan. It is transferred to the heir(s) named in the will, distributed among legal heirs in accordance with the law, or transferred to state ownership where provided by law.
On what basis is the deposit of a deceased client paid to the heir?
1. On the basis of a will
If the deceased left a notarized will, the deposit is paid to the heir or heirs specified in the will.
2. On the basis of law
If there is no will (for example, the deceased did not make a will, the will does not cover all of the estate, the will has been declared invalid, the heir under the will has not accepted the inheritance, or in other cases), inheritance is carried out in accordance with the law. In such cases, the deposit is distributed among the first-, second-, and third-order heirs in accordance with the Civil Code of the Republic of Tajikistan.
In what cases does the deposit of a deceased client become state property?
According to Article 1281 of the Civil Code of the Republic of Tajikistan, the deposit becomes state property if:
the testator has deprived all heirs of their inheritance rights;
all heirs are ineligible to inherit;
all heirs have renounced the inheritance without specifying the person in whose favor the renunciation is made;
all heirs have failed to accept the inheritance;
the deceased has no heirs either by law or under a will.