Last Updated: May 16, 2023, 12:56 IST
Intestate succession means property, movable or immovable, that has not been disposed of below a will.
Intestate succession means property, movable or immovable, that has not been disposed of below a will.
People go to nice lengths to make sure that their family members are protected against any monetary calamity within the occasion of their demise. This contains taking life insurance policy and leaving some financial savings for his or her household. But one factor folks usually neglect to do is write their will. This can hamper the probabilities of their belongings passing on with none trouble to their family members. It also can end in authorized disputes concerning the distribution of the belongings.
Intestate succession means property, movable or immovable, that has not been disposed of below a will. In India, intestate succession is ruled by the Hindu Succession Act, 1956, and the Hindu Succession (Amendment) Act, 2005 for Hindus, Sikhs, Buddhists and Jains. Under this part, if a Hindu male has died with out leaving a will, the belongings will go on to his Class I heirs. Class I heirs embrace:
• Son/daughter.
• Mother.
• Widow.
• Children of a predeceased son/daughter.
• Widow of a predeceased son/daughter.
• The widow of a predeceased son of a predeceased son.
• The daughter/son of a predeceased son.
Failing the presence of Class I heirs, the property can be transferred to Class II heirs, which embrace father, siblings, kids of siblings, and grandchildren of siblings.
In case no Class I or Class II heirs exist, the belongings can be given to agnates (distant blood family of male lineage) and cognates (distant blood family of feminine lineage). If these family can’t be discovered, the property can be transferred to the federal government.
In case a feminine Hindu dies intestate, her property shall be transferred to:
• Sons and daughters (this additionally contains kids of a predeceased daughter or son) and the husband.
• The heirs of her husband.
• Parents.
• Heirs of the daddy.
• Heirs of the mom.
For Muslims, Sharia legislation is relevant within the matter of intestate succession. For Christians and different minorities, the Indian Succession Act of 1925 is relevant within the matter.
In case the deceased doesn’t depart behind a will, the distribution and switch of belongings can result in numerous hassle for the heirs. They can be at an obstacle to say the cash and should should spend extra with a purpose to get their rightful due. It is all the time vital to bequeath your belongings to your heirs (or anybody who you designate to be your inheritor) with a final will and testomony to keep away from any troubles.
