Actual possession

Documentation for an actual possession

For the actual possession of a deceased shareholder, the heirs must obtain the following documents:

  • Balance certificate provided by DCV Registros S.A. indicating the number of shares of the deceased shareholder.
  • A certificate provided by the Santiago Stock Exchange Statistics Department including the weighted average of the price of the shares in the market for the last six months before the shareholder's death.
  • In the case of shares of a Closed Corporation, a certificate provided by DCV Registros S.A. including the book value closest to the date of death.

Documentation needed after the actual possession

After the actual possession of a deceased shareholder has been processed, the following documentation must be issued to DCV Registros S.A.:

Actual possession processed in court

1.            Copy of the actual possession authorized in the Real Estate Registrar's Property Register, which cannot be older than six months, and in the case of a copy obtained through the Internet, the term to validate it in the Real Estate Registrar's website must be effective.

2.            In the case of a testate actual possession:

a) Copy of the will's registration in the previously mentioned Registrar.

b) Copy of the will to determine if there is a legacy on the shares since the Registrar does not include this information in its registry.

3.            Copy of the inventory of the goods of the predecessor in title or of the extension that includes the shares required by the succession.

4.            Certificate of SII (IRS) or the Court's Resolution on the inheritance tax, either approving its payment or stating its extension or prescription term; if the shares are included in an inventory extension, this resolution must be dated afterwards; this is, it must have been ordered considering the goods included in the extension.

Actual possession processed in the Office of Vital Records

1.            Actual possession certificate from the Office of Vital Records, including, among other information, the predecessor in title, the heirs, and the goods. If the inventory included in the certificate above does not mention the number of shares of the predecessor in title but only their price, a certificate that accredits the average price of the shares in the six months before the date of death must be attached.

2.            Copy of the Resolution of SII (IRS) on the inheritance tax, either approving its payment or stating its extension or prescription term; if the shares are included in an inventory extension, this resolution must be dated afterwards; this is, it must have been ordered considering the goods included in the extension.

Succession's Representation

In the case of heirs younger than 18 years old, the following applies:

  • If they are the children of the predecessor in title: Birth certificate of each minor or a copy of the Family Record Book legalized by a Notary.
  • If they are not children of the predecessor in title and they live with only one of their parents: The father's or the mother's birth and death certificates, as appropriate.
  • If they are not children of the predecessor in title and both parents are alive: Birth certificate with a recent date of issue indicating if an agreement was reached in terms of guardianship and custody and also a notarized sworn statement from both parents to establish if they are or are not separated and if so, the person with whom the minor lives; this sworn statement will not be needed if both parents act together representing the minor.

Powers of attorney.

The following information must be provided to act in representation of the succession:

  • A POA signed by all the heirs to the same agent, granting it powers over the shares. In this document, the heirs may grant power to sell stock and/or collect and receive dividends if necessary. This POA can be granted under a notarized authorized private Instrument or through a public deed (for more information, please go to the "Powers of Attorney" tab.
  • If the heirs are part of several successions (deceased heirs), the POA must be granted for all the successions involved.
  • If there are women among the heirs, and power to sell shares is granted, or there is a stock transfer, or there is a partition of assets, the marital status of each female heir must be accredited with a marriage certificate issued on a recent date or a sworn, notarized statement of two witnesses that accredits them as single or widowers dated on the date of the POA; if married under community property, the husband must also grant a notarized POA to sell stock or participate in the partition deed, as appropriate; in the case of dissolved marriages due to annulment or divorce, it must be accredited that the heir has not married again with a notarized sworn statement of two witnesses.
  • The above applies to POAs to sell granted through a notarial instrument, previously informed, and presented with a validity certificate to be updated, where the marital status of the date in which the update is requested must be accredited as mentioned.

Shareholder’s Attention

Legal Documentation

Dividends

Powers of attorney

Transfers

Other Information

Certificates

Actual possession

Questions