SANTO DOMINGO. – The Superintendency of Banks (SB) submitted a draft bill to the Chamber of Deputies on Monday seeking to expedite access to the assets and funds of deceased persons by simplifying procedures related to inheritances, legal communities of property, and judicially recognized common-law unions.
According to the entity, the initiative seeks to modernize the current legal framework to facilitate access to asset information and the delivery of movable property and funds of lesser value, reducing the administrative burdens that citizens currently face during these processes.
The preliminary draft was sent to the president of the Chamber of Deputies, Alfredo Pacheco, to begin the corresponding legislative process.
Fewer procedures and shorter deadlines
According to the Superintendency of Banks, one of the main novelties of the proposal is the creation of a simplified procedure for the delivery of movable goods of lesser value, with the elimination of formalities considered unnecessary.
It also proposes reducing the timeframes for accessing asset information and establishing a difference between the right of heirs or interested parties to know the assets of a deceased person and the right to withdraw the funds, with the purpose of strengthening transparency during these processes.
Access to resources for funeral expenses
The initiative also incorporates a simplified mechanism to facilitate access to resources intended to cover funeral expenses and other urgent needs arising from the death of a person.
According to the SB, this provision seeks to standardize a procedure that currently lacks specific regulation, offering greater clarity to both citizens and financial entities.
Greater legal certainty
The agency reported that the proposal also contemplates limiting unjustified conservatory measures or oppositions to undivided assets, strengthening the rights of the parties involved, and promoting interoperable systems that allow for reduced response times and administrative burdens.
The Superintendency of Banks considered that the draft bill will contribute to strengthening the protection of financial users, improving asset transparency and providing greater legal certainty to entities in the financial system through clearer rules for this type of process.
Reform with social impact
According to the institution, the initiative seeks to fill a regulatory gap that has existed for years and offer a more agile response to people who must manage the assets of a deceased relative or deal with the dissolution of a joint estate.
The SB maintained that the proposal is part of the actions aimed at building a more efficient financial system focused on the needs of users, facilitating the exercise of their property rights.
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