Summary.
The draft bill seeks to govern the recognition and succession effects of digital assets forming part of the deceased person’s estate. It links their treatment to wishes expressed during that person’s lifetime. Its scope therefore covers both the inclusion of those assets in succession and the way the deceased person’s instructions would guide their transfer, management or disposal.
To incorporate this subject into succession law, the bill proposes additions to Title 1, General Provisions, of Book Three, Succession upon Death and Gifts Inter Vivos, of the Civil Code (Código Civil). Proposed Article 631-A defines digital assets as intangible rights, content or assets administered, managed or exercised through digital means or environments, whether or not they have economic value. The definition includes assets requiring credentials, keys or other technological means of access, as well as assets held, administered or managed by third parties. It thus addresses both the intangible nature of an asset and the digital means by which it is exercised or accessed.
When necessary to identify, preserve or value such assets, a judge could issue a reasoned order to digital service providers, electronic platforms or administrators of information systems. The order could require them to supply information, carry out instructions left by the deceased person or grant controlled access to the assets. It would extend to domestic or foreign recipients with operations, representation or legal effects in the Republic of Panama (República de Panamá). For these measures, the provision refers to the Civil Code, written as Código CiviL in that passage.
Proposed Article 632-B provides that the deceased person’s express wishes, stated during their lifetime in a will or another instrument valid under law, would take priority in governing the transfer, management or disposal of digital assets. Those wishes could include instructions concerning access, preservation, management, transfer or deletion. They could also designate persons authorized to carry out those purposes. Adding Articles 631-A and 632-B to the Civil Code would therefore introduce a definition, a judicial power to obtain information or controlled access, and a rule giving priority to the deceased person’s instructions. The bill states that it would take effect on the day following its promulgation.
In terms of public institutions, the proposal concerns judges handling succession matters and the Civil Code as the governing legal framework. Its provisions could interest or affect deceased persons’ estates, authorized persons, successors, digital service providers, electronic platforms and administrators of information systems with operations, representation or legal effects in the Republic of Panama.
What it proposes.
- Recognition of digital assets in a deceased person’s estate.
- The succession effects and disposition of those assets.
- Judicial measures for their identification, preservation or valuation.
Who it would affect.
- Deceased persons and persons authorized through their instructions.
- Persons involved in succession proceedings.
- Digital service providers and electronic platforms.
- Administrators of information systems covered by the provision.
Key points.
- It proposes to govern the succession effects of digital assets according to wishes expressed by the deceased person during their lifetime.Art. 1
- It adds provisions to Title 1 of Book Three of the Civil Code.Art. 2
- It defines digital assets as intangible rights, content or assets managed through digital means, whether or not they have economic value.Art. 2
- It includes assets requiring technological means of access and assets held or managed by third parties.Art. 2
- It allows a judge, by reasoned order, to require information, implementation of instructions or controlled access when needed 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 instrument valid under law.Art. 2
- It allows instructions on access, preservation, management, transfer or deletion, and the designation of authorized persons.Art. 2