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legal heirs - need explanation of the term


Hi,



I wish to understand the meaning of the term "legal Heirs" that's widely used in legal contracts ranging from property deeds, loan agreements to company/business contracts as per the Indian Laws.



Also please explain what liabilities do the legal heirs have in case the signatory defaults...Are the personal assets of legal heirs at risk in such a scenario????



If the ascendants of the signatory legally oust him from the right to inheritance, does it help shield the ascendant's assets from being at potential risk????



Thanks in advance!



Rajat Kumar

 
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practicing advocate

The legal representatives of the deceased persons is called as legal heirs.

SEc 8 of The Hindu Scuccessin Act says about the General arules of succession in the case of male;

The heris shown in this section are the legal heirs of the decesed persons

Sec 16 of Hindu Succession Act shows who are the heirs of the female Hindu.

No acendants of the signatory cannot oust thim from the inheritence.

 
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