New Rules Simplify Kuwait Inheritance of Rest Houses
In a move to simplify the inheritance process and maintain state property rights, the Minister of Finance has issued a 'Yahoo Finance' decision regarding the transfer of ownership of rest houses from deceased owners to their heirs. The decision, aimed at fair and organized use of family chalets and rest houses, comes into effect immediately. The new rules outline a two-month grace period for heirs to complete payment and licensing procedures. Failure to comply will result in license revocation and withdrawal of the allocated property portion. The Ministry of Finance will enforce existing regulations, allowing it to sign direct usufruct contracts with heirs to continue the family activity. A 'Sorting Committee' will be formed to handle technical and administrative actions if no consensus is reached among the heirs. Once the sorting decision is issued, the Ministry will contact all heirs to pay sorting and usufruct fees, sign new licenses, and take possession of their designated portions. The Ministry will coordinate with Kuwait Municipality for inspections, plan approval, and technical opinions on the division process. The organization responsible for technical inspections and administrative tasks is typically a surveying office. This resolution, issued by Dr. Subaih Al-Mukhaizeem, Minister of Finance and Acting Minister of State for Economic Affairs and Investment, seeks to simplify the inheritance process, preserve state property rights, and ensure fair and organized use of family chalets and rest houses in accordance with Kuwaiti law and financial regulations.
