BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Title
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Will
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Property
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Probate Court
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Detailed explanation-1: -The Indian Succession Act, 1925 mainly deals with the distribution of the property of a person after death in India. Under the Indian Succession Act, the distribution of the property after death is divided mainly into two parts, intestate succession, and testamentary succession.
Detailed explanation-2: -The Hindu Succession Act, 1956, establishes that a deceased person’s property will be distributed among his heirs in Class-I of the schedule, if he dies without leaving a will. If a person dies without leaving a will, his widow takes one share.
Detailed explanation-3: -As per the Hindu Succession Act, 1965, if a person dies intestate, his property would go to Class I heirs. If the Class I heirs do not exist, then the property would be delegated to Class II heirs. However, if both the Class I and Class II heirs are not alive, then the property would be transferred to Agnates.
Detailed explanation-4: -(h) “Will” means the legal declaration of the intention of a testator with respect to his property which he desires to be carried into effect after his death.