Neutral impactEconomy
NRI inheritance: You live abroad, your assets are in India — which country's laws decide who inherits?
Mint 1d ago·29 Aug 2026, 12:23 pm
Indian residents living abroad often face a complex legal situation regarding assets held in India. When a non-resident Indian (NRI) passes away without a valid will, the legal framework that governs the inheritance depends entirely on how the assets are classified. This distinction is crucial because different laws apply to different types of property.
The most common scenario involves immovable property, such as land or houses. Under the Indian Succession Act of 1925, these assets are typically governed by the law of the country where the property is located. This means the laws of India would generally apply to real estate situated within the country. However, movable assets like bank accounts, shares, or mutual funds are usually governed by the law of the domicile where the deceased was a resident at the time of death. This creates a situation where different parts of an estate may fall under different legal jurisdictions.
For investors, this distinction is important because inheritance laws vary significantly between countries, affecting how assets are distributed and the tax implications involved. It is essential to consult with a legal expert to understand the specific rules that apply to your situation. Proper estate planning can help ensure that assets are transferred smoothly and according to the individual's wishes, avoiding potential disputes and complications for the beneficiaries.
Excerpt from Mint
Under Indian law, asset classification dictates which legal framework applies when someone dies without a will (intestate) Managing assets across global jurisdictions involves navigating intricate and distinct succession laws . For Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs) with global families…Read the original at Mint
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