Morocco Eases Property Sale Rules for Foreign Heirs, Allowing Phased Fund Transfers

The law on the transfer of the proceeds from the sale of inherited property in Morocco is a major concern, especially in the case of the liquidation of an inheritance, reports L’économiste.

As an example, the same source mentions the case of French nationals who have inherited a building. They were unable to transfer the proceeds of the sale of their property to France, their country of origin. To solve this equation in the absence of supporting documents, the procedure consisted of a transfer to the heirs of 30,000 dirhams per year lived by the deceased in Morocco.

Similarly, the balance must be deposited in a convertible term account. Thus, the credit of this account can be transferred up to 25% over 4 years. In addition, the law allows heirs to request a special exemption to make a one-time transfer.

The first payment can only be made within one year from the date of registration of the funds in the account. This procedure does not apply to dual nationals.