LEGACY OF COMMON SHARES SPAIN
Supreme Court’s decision analysis: DELIVERY OF THE LEGACY
Dear clients and readers,
In the sphere of company functioning and delivery of legacies, we are glad to share with you the recent landmark Judgment of the Spanish Supreme court nº 862/2021, of December 14. Which analyzes the position of the legatee of social shares, at the time prior to their delivery by the legal heir.
In a nutshell, the Judgment rules that the delivery above is a requirement for the effectiveness of the legacy. And consequently, for the valid exercise of membership rights.
However, there are compelling arguments to understand that the legatee is fully entitled to deploy his rights in the company since the death of the testator.
HOW TO CONTACT US FOR FURTHER SPECIFIC ADVICE?
We hope you find this helpful information. Remember that this is not intended to be specific legal advice, just a general overview. As independent lawyers, we can help you both by assisting you with all company and inheritance issues and carrying out a comprehensive background legal analysis on your consultation or problem, if required.
Should you be interested in receiving more specific information or simply get an independent 2º opinion. (Either about this particular subject or any other), you can contact our firm several ways:
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Finally, thank you very much for your attention, and in case you might have any questions or doubts at all about Common Shares process in Spain, again please do not hesitate to contact us. We would like to stress the point that you will be in good hands, and you can be reassured that we will look after your interests in the most committed and professional way.
We look forward to helping you and the benefit of our “know-how”.
Mr Oscar Ricor Morales
“NON-PRACTISING ENGLISH SOLICITOR IN ENGLAND AND WALES”, under the “Solicitors Regulation Authority” (SRA) SRA number 519196 and practising Spanish Solicitor.