Will Smith and his Overbrook Entertainment production company has acquired remake rights to the Spanish comedy Ghost Graduation (Promoción Fantasma) and is setting up the project at Fox studios.

The story centers on Modesto, a high school teacher who sometimes sees dead people. Not only has this cost him a fortune at the shrink’s, it’s also gotten him fired from every school he’s ever worked. His luck changes when he lands a job at Monforte where five students have turned the prestigious school into a house of horrors. Modesto is charged with getting all five kids to pass their senior year and to get out of there once and for all. But it won’t be that easy because, you see, the 5 students have been dead for over twenty years.

A writer is currently being sought to pen the adaptation, although no word on whether Will Smith will star as the teacher who sees dead people. It's not like he doesn't already have a gazillion projects at some stage of development.

The original Spanish film was directed by Javier Ruiz Caldera, and released in Spain earlier this year.

Look for Mr Smith in Men In Black 3 next, this year, and with son Jaden Smith in 1000 A.E. (directed by M. Night Shyamalan), in summer 2013.

Watch the trailer for the original film below for a glimpse at what you can expect: