Inheritance law you should be aware of

Aug 12 2014, 11:56 IST
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Inheritance in India and the manner in which property of a deceased person is to be distributed is determined by the law of Succession. (Reuters) Inheritance in India and the manner in which property of a deceased person is to be distributed is determined by the law of Succession. (Reuters)
SummaryInheritance in India and the manner in which property of a deceased person is to be distributed is determined by the law of Succession.

Inheritance in India and the manner in which property of a deceased person is to be distributed is determined by the law of Succession, in the event that there is no will or equivalent document declaring the deceased personís intent.

HINDU LAW

The Hindu Succession Act, 1956 is the law that was passed by the parliament of India in 1956 to amend and codify the law relating to intestate or unwilled succession, among Hindus. It applies to all those who practice the Hindu religion as well as those who fall under the term Hindu within the Indian Legal system, including Buddhists, Jains, and Sikhs. It is hailed for its consolidation of Hindu laws on succession into one Act. The Hindu woman's limited estate is abolished by the Act. Any property, possessed by a Hindu female, is to be held by her absolute property and she is given full power to deal with it and dispose of it by will as she likes. The Act was amended in 2005 by Hindu Succession (Amendment) Act, 2005.

Will

A will or testament is a legal declaration expressing the wishes of a person, containing the names of one or more persons who are to manage his estate and provide for the transfer of his property at death. The person who prepares such a will is known as the testator. The distinction exists because if there is no will, or the will is found not to be valid, the property will be divided and transferred as per the rules of intestate succession.

Probate

A probate means a copy of the Will, certified under the seal of a competent Court with a grant of administration of the estate to the executor of the testator. It is the official evidence of an executor's authority. After the death of the person concerned, a proceeding may be initiated in court to determine the validity of the will that the testator may have created, known as a probate proceeding, which will satisfy the legal requirements. In most cases, during probate, at least one witness is called upon to testify or sign a "proof of witness" affidavit. If the will is ruled invalid in probate, then inheritance will occur under the laws of intestacy as if a will were never drafted.

For executing the Will the person must be fully competent, as much as he should not be a minor and should not person of unsound mind. The

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