NISM 10B Investment Adviser Level 2 Notes
Page 120 Of 180
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Probate: Court process to validate a will’s authenticity.
Succession Certificate: Issued for movable assets without a will.
Legal Heirs: Persons entitled to inherit under personal laws.
Class I Heirs: Primary heirs under Hindu Succession Act, e.g., spouse, children.
Class II Heirs: Secondary heirs if no Class I heirs exist.
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