Mitakshara coparcenary

You have asked a very open ended question and I advise you to refer to one of these Books -- Family Law Lectures - II (by Dr. Poonam Pradhan Saxena) or Modern Hindu Law (by Dr. Paras Diwan), if you are seeking comprehensive knowledge on this topic.

Briefly stated, the Mitakshara Coparcernary system has little to no relevance in the present system of Succession after the sweeping amendments brought about by our Legislature.

For instance, Section 6 (3) of the Hindu Succession Act, 1956 states that where a Hindu dies after the commencement of Hindu Succession (Amendment) Act, 2005, his interest in a Joint Hindu Family Property (which was earlier governed by the mitakshara law) will now devlove by testamentary or intestate succession under the Hindu Succession Act and not by survivorship. 

By virtue of Section 6 (1) of the same Act, the daughter of a coparcenar also becomes a coparcener by birth and has the same rights as that of a son.