Inheriting Bank Deposits and Accounts in Uzbekistan: A Practical Guide for Heirs

Inheriting Bank Deposits: The Essentials

If a loved one has passed away leaving a bank deposit or account, those funds pass to the heirs through the standard inheritance procedure — which means obtaining a Certificate of Inheritance Rights (свидетельство о праве на наследство) from a notary. Banks in Uzbekistan do not proactively locate heirs or release funds without a notarial document. That is why contacting a notary promptly is the single most important step to securing these assets.

Key points to keep in mind:

• Bank deposits and accounts are part of the heritable estate on equal footing with real property and other assets.
• A notarially issued Certificate of Inheritance Rights is required before a bank will release any funds.
• Inheritance may occur either by law (statutory order of priority) or by will — including a testamentary disposition made directly at the bank.
• There is a statutory time limit for accepting an inheritance; missing it will require either a court order or the consent of all other heirs to remedy.

---

Two Routes: Testate and Intestate Succession

In my day-to-day practice, I regularly encounter two scenarios.

Testate succession (inheritance by will). If the deceased left a notarially certified will, the deposit passes to the person named in it. A separate instrument — a testamentary bank disposition — can be executed directly at the bank and has the same legal force as a will with respect to that specific account. It is important to note that even where a valid will exists, certain categories of heirs — a disabled spouse, parents, or children — retain a mandatory share of the estate under Uzbek law regardless of the will's terms.

Intestate succession (inheritance by law). Where no will exists, the deposit is distributed among heirs according to the statutory order of priority established by the legislation of the Republic of Uzbekistan. The spouse, children, and parents of the deceased generally constitute the first order of priority.

---

Step-by-Step Process

---

Documents to Bring to the Notary

• Heir's passport (or other identity document)
• Death certificate of the deceased
• Documents proving kinship (birth certificate, marriage certificate, etc.) — required for intestate succession
• The original will (if in your possession) — the notary will also check the national will registry
• Bank account details (deposit agreement, savings book, account statement) — if available
• Document confirming the deceased's last place of registered residence

I always advise clients to prepare copies of all documents before the appointment — it speeds up the process considerably and reduces the number of visits required.

---

Special Situations

The account is unknown. Heirs frequently do not know which bank holds the funds. In such cases, the notary has the authority to send formal enquiries to banks. The more information you can gather about the deceased's financial affairs beforehand, the faster the procedure will be.

Multiple heirs. Where there is more than one heir, the deposit is divided in proportion to each heir's share. The heirs may also enter into a partition agreement — this too must be notarially certified.

Debts of the deceased. Heirs inherit assets together with liabilities. If the debts exceed the value of the deposit and other estate assets, the heir has the right to renounce the inheritance entirely — this is also formalised through the notary.

---

Frequently Asked Questions

Can heirs access a bank deposit without a notary?

No. Banks release funds to heirs only upon presentation of a notarially issued Certificate of Inheritance Rights or a court order. While legislation may provide narrow exceptions for very small amounts, in practice banks consistently require a notarial document in all cases.

How much does it cost to formalise inheritance of a bank deposit?

Notarial fees are calculated based on the value of the inherited assets and the degree of kinship between the heir and the deceased. For the current applicable tariffs, please enquire directly with the notary at the time of your appointment, as rates are subject to periodic revision.

What happens if the deadline for accepting the inheritance is missed?

Missing the deadline does not automatically extinguish the right to inherit. The deadline may be reinstated by a court if there are valid reasons for the delay, or — if all other heirs agree — the matter can be resolved without going to court. Either route adds time and cost to the procedure, so I strongly recommend contacting a notary as soon as possible after the death.

Is inherited money from a bank account subject to tax?

The tax treatment of inherited assets is governed by tax legislation, which may change over time. I recommend verifying the current rules with a notary or a qualified tax adviser at the time you begin the inheritance process.

Can someone leave a bank deposit to one person and the rest of their estate to another?

Yes. A will may cover the entire estate or specific assets only. A testamentary bank disposition applies solely to the account held at that particular bank. Both instruments can be used together — a notary can help you design the most appropriate arrangement for your circumstances.

---

> Please note: This article is provided for general informational purposes only and does not constitute individual legal or notarial advice. Every inheritance situation is unique, and only a personal consultation allows all the specific circumstances of your case to be properly assessed.

---

Consult a Notary in the Yunusabad District, Tashkent

If you need to formalise the inheritance of a bank deposit or account, I welcome you to a consultation at my notary office in the Yunusabad district of Tashkent. We will review your situation, prepare the necessary enquiries to banks, and guide you through the entire process — from opening the inheritance case to receiving the Certificate. Please get in touch through the contact details listed on this website.