What is Inheritance?
When a family member dies, his or her property is passed down to the next generation. When an individual dies, the property titles, mortgages, debts, and other possible rights are inherited by the family’s successor. Property inheritance law in India allows the successor to inherit the property in two ways:
- Will or Testamentary Succession: The person who creates the will is known as a testator, and the person in whose favor the will is formed is known as the legatee. The will cannot include the complete ancestral property or asset, just the portion that the deceased person legally possesses.
- Intestate Succession Laws: This applies when a person dies without leaving a will. The inheritance is distributed among the successors. Each successor receives an equal share, according to the property. The Hindu Succession Act, often known as Hindu or Muslim personal inheritance law, governs intestate succession.
Following the passing of the property owner, their rights can be categorized into two distinct classes: Inheritable and Un-inheritable rights.
- Inheritable Rights: Inheritable rights pertain to those that persist beyond the owner’s death and are transferable to their legal representative. These rights, such as proprietary rights like debts, remain valid and enforceable.
- Un-inheritable Rights: On the other hand, un-inheritable rights are those that cease to exist upon the owner’s death. These rights, such as personal rights linked directly to the individual, expire with the individual and cannot be passed on to another party.
What is Inheritance and Succession?
Inheritance and succession refer to the legal process through which property and rights are transferred from one individual to another upon death. It encompasses the rules and procedures governing the distribution of assets, debts, and other interests of a deceased person among their heirs or beneficiaries. Understanding inheritance and succession is crucial in legal studies as it involves principles of family law, property law, and the intricacies of wills and intestacy laws.
Key Takeaways
- Inheritance is how someone gets property when someone else dies.
- It’s about the right of an heir to get property from an ancestor who passed away.
- Laws of succession vary for people from different religions.
- These laws decide who gets what when someone dies, based on their religious background.
Table of Content
- What is Inheritance?
- What is Succession?
- Who is an Heir?
- Who is Testator?
- What is Will?
- Testamentary Succession
- Inheritance and Succession- FAQs