Probate of will and its importance
will
In general, Probate is the process of dealing with someone's possessions, the money and the final wishes of a person after they have died. It is official proof of a will issued to the executor or an authorized person to execute a will for NRI property in India. This adds a legal character to the Will. According to the Indian Succession Act, 1925, probate is a copy of a will that is certified under the seal of the court of competent jurisdiction with the authorization of the administration of the deceased's property.
Probate is usually issued to the executors of a will to authorize them with an approval seal from the court. If there are no executors of the will, the court issues a simple administrative letter instead of probate. Once probate of will has been applied, the original copy will be kept by the court, which provides the executor with a certificate of authenticity along with a copy of the will.
Importance of a Probate of will for NRI property in India
The importance of having probate is that it legalizes a will or executor of the will to transfer property on behalf of the person to whom the property is intended (Beneficiary). There are several reasons why probate could be crucial. Take, for example, a NRI property in India that is supposed to reach the destined person, and he/she wants to occupy it.
Since, according to the society Register, the owner has died and left the will, unless the executor shows probate that expresses his authority to transfer the property, the society might not agree to transfer it. Probate is useful, even if a will is made outside the state of which the property/assets are situated in the given state.
Applying for a Probate of will for property in India
According to the Indian Succession Act, probate is granted concerning Section 57 and Section 213. Probate is issued to the executor/(s) by the High Court together with a copy of the attached will.
One can apply for probate according to the following criteria:
• After the seven days of the death of the tester.
• Needs to be created with the guidance of a lawyer or an advocate, to the High Court, under whose jurisdiction the estate might fall.
Although a lower court grants probate for the immovable property of little value, a higher court provides probate required for the high-quality immovable property.
Documents required for Probate of will
When applying for probate, the following documents must be submitted stating:
• The will is real and is the last will made by the testator.
• Proof of death of the testator.
• Will is executed in clear understating of a testator.
Granting of Probate
Once your probate application has been submitted, it will be reviewed by the authorities and the alerts will be sent to the deceased's close relatives to inform them of the issue of probate. A general notice will be published so that the public can see it, and this will help raise objections to the granting of the probate.
Probate of will for NRI property in India is granted if there are no complaints received from the public or relatives and is done after the court fees have been paid. The court fees depend on the value of the immovable property. Probate may take time and cost a small percentage of inheritance. This includes court fees including lawyer's fees. If multiple assets need to be managed and these assets exist in different states, a probate can be created. This is especially useful when treating high-value properties.
Who is liable for handling probate?
Usually, the executor mentioned in the will takes this job. In the event, if there is no will or a will does not include the name of an executor in it, the probate court will appoint someone called an administrator to oversee the process. Usually, the selected person is chosen as the closest relative or the person who inherits most of the deceased person's assets. If no formal probate proceeding is required, the court will not appoint an estate administrator. Instead, a close relative or friend is selected as the informal property representative.