Summary.
The draft bill proposes to regulate the recognition and succession effects of digital assets forming part of a deceased person's estate. It makes wishes expressed during that person's lifetime the governing consideration for their treatment. Its purpose therefore covers both identifying assets within the estate and giving effect to instructions left by their owner.
To do so, it proposes additions to Title 1, General Provisions, of Book Three, Succession upon Death and Gifts Inter Vivos, of the Civil Code (Código Civil). It defines digital assets as intangible rights, content, or assets administered, managed, or exercised through digital means or environments. The definition covers assets whether or not they have economic value, including those requiring credentials, keys, or other technological access mechanisms. It also covers assets held, administered, or managed by third parties.
Where necessary to identify, preserve, or value such assets, a judge could issue a reasoned order to digital service providers, electronic platforms, or computer system administrators. The order could require them to provide information, carry out instructions left by the deceased person, or grant controlled access to the assets, in accordance with the Civil Code. It could apply to domestic or foreign providers with operations, representation, or legal effects in the Republic of Panama (República de Panamá). The proposed judicial power is tied to those purposes and to a reasoned decision.
The draft bill provides that the transfer, administration, or disposition of the deceased person's digital assets would be governed primarily by their express wishes, stated during their lifetime in a will or another instrument valid under the law. Those wishes could include instructions concerning access to, preservation, administration, transfer, or deletion of the assets. They could also designate persons authorized to carry out those acts. The proposal thus addresses both decisions about the assets' destination and the identification of persons who may take part in their treatment during succession.
The added provisions would become part of the general rules in Book Three of the Civil Code and would be applied consistently with that Code. The text provides that the proposed law would take effect upon promulgation. Its subject matter concerns the work of judges and the activities of digital service providers, electronic platforms, and computer system administrators. It would also affect deceased persons' estates, persons designated by the deceased, and those involved in succession proceedings.
What it proposes.
- Recognition of digital assets in succession upon death.
- Effect of the deceased person's wishes on access to and disposition of those assets.
- Judicial orders to identify, preserve, or value digital assets.
Who it would affect.
- Deceased persons whose estates include digital assets.
- Persons authorized by the deceased.
- Digital service providers and electronic platforms.
- Computer system administrators.
Key points.
- It proposes to regulate the succession effects of digital assets according to wishes expressed by the deceased person during their lifetime.Art. 1
- It adds digital asset provisions to Title 1 of Book Three of the Civil Code.Art. 2
- Its definition includes intangible assets with or without economic value, whether or not they require technological access mechanisms, including assets managed by third parties.Art. 2
- It allows a judge, by reasoned order, to require information, execution of instructions, or controlled access when necessary to identify, preserve, or value the assets.Art. 2
- It gives priority to the deceased person's express wishes, stated in a will or another valid instrument, for the transfer, administration, or disposition of the assets.Art. 2
- It permits instructions on access, preservation, administration, transfer, or deletion, and the designation of authorized persons.Art. 2
- It incorporates the added articles into the Civil Code and sets promulgation as the start of the proposed law's operation.Art. 2