The Process of Transferring Digital Heritage and Crypto Assets to Heirs
Examines the concept of digital heritage, covering the legal and practical aspects of transferring social media accounts and crypto assets to heirs.
Due to the principle of universal succession in the Turkish Civil Code, social media accounts and crypto assets legally pass to heirs, while practical access and technical obstacles pose the greatest challenge in the process.
Scope and Value of Digital Heritage
The concept of digital heritage encompasses social media accounts and emails with sentimental value, alongside cryptocurrency wallets and NFTs with economic value. It must first be examined whether each account holds economic value.
Social Media Accounts and Universal Succession
Pursuant to Article 599 of the Turkish Civil Code, heirs acquire the inheritance as a whole upon the death of the testator. However, the privacy policies and technical tools of platforms frequently conflict with legal regulations.
The Status of International Platform Agreements
Deletion or transfer rules contained in the agreements of foreign platforms cannot override the mandatory rules of Turkish inheritance law and do not eliminate the rights of heirs in accounts that have economic value.
Technical Access Problem in Crypto Assets
While crypto assets are also included in the estate, it is impossible to access assets in personal wallets without knowing the private key or seed phrase. These decentralized structures can lead to de facto losses despite legal ownership.
The Procedure to Follow on CMB-Licensed Exchanges
For assets held on CMB-licensed exchanges, an official application is made by obtaining a certificate of inheritance, and the tax obligation on the transferred value is fulfilled. This process is similar to traditional bank accounts.
Practical Measures for the Future
To facilitate the process for heirs, it is of great importance to specify digital assets in the will, activate platform tools, and securely store critical information.