The beautiful thing about the law of succession is that it affects almost everybody. In a lifetime, you are either going to inherit property or pass property to your heirs. Whichever category you fall in, it must be in accordance with law, and like they say, 'ignorance of the law is no excuse'.
Property is generally divided into two types:
1. Real Property (land and landed property)
2. Personal property (all other property apart from land)
There are two types of succession
1. Testate Succession (where there's a valid will)
2. Intestate Succession (where there is no valid will or the will covers only part of the property of the deceased)
A will or testament is a legal document by
which a person, the testator , expresses their
wishes as to how their property is to be
distributed at death, and names one or more
persons, the executor , to manage the estate
until its final distribution.
A gift of Personal property through a will is known as a LEGACY, and the beneficiary is called a LEGATEE
A gift of real property through a will is known as a DEVISE, and the beneficiary is DEVISEE
A person who wishes to pass his estate to his heirs may do so through a will, where he does not, his estate forms intestate estate and is governed by Laws relating to intestacy. Subsequently we will examine the laws relating to making of a will in another post, but here our focus will be on INTESTACY.
Intestacy is the condition of the estate of a person who dies without
having made a valid will or other binding declaration. Alternatively
this may also apply where a will or declaration has been made, but
only applies to part of the estate; the remaining estate forms the
" intestate estate".
Where a person dies intestate, his estate is governed by the personal law of the deceased and the rules of equity. If during his lifetime, the deceased was subject to customary law, his estate would devolve in accordance to the rules of Customary Law, but where not, his estate is governed by the Administration of Estates Law of the various states in Nigeria. (see SALUBI v. NWARIAKU)
Where a person whose estate is governed by customary law on intestacy, a letter of administration need not be obtained for devolution of the property and the property may be shared by the community head or family head in line with the prevalent custom; but where the property is bound by the Administration of Estates Law, a letter of administration must be obtained.
Letter of Administration is the legal authority granted by the Probate Court to a person
called the administrator or administratrix to administer the estate or property of a
person who died intestate. A person is said to have died intestate when he dies without
leaving behind a valid will. The administrator derives his or her authority to act from
the terms of the letters of administration,
granted, an administrator lacks the authority to act. Ademola v. Sodipo (1989) 5 NWLR (Pt. 121)329.
Any person interested in the Estate of the deceased may apply for a letter of administration.
of Estate Law, Laws of Lagos State,
Volume 1, CAP A3, 2003)
The maxim number of persons that can apply for a letter of administration is four. (see Section 24 Administration of Estate Law, Laws of Lagos State).
Section 49(1) of the Administration of Estates Law states that, the estate of a person
who died intestate shall be distributed in the following manner; the surviving husband or
wife shall take the personal chattels absolutely and in addition the estate (excluding
personal chattels) shall be charged with the payment of a net sum of money equivalent
to the value of one third of the estate, free of funeral expenses, to the surviving
husband or wife plus interest from the date of death at the rate of 2½ % per annum
until paid or appropriated and subject to providing for that sum the estate (excluding
personal chattels) shall be held as follows; (a) one-third upon trust for the surviving
husband or wife during his or her lifetime and subject to such life interest, on the
statutory trusts for the children of the deceased; and (b) two thirds on the statutory
trusts for the children of the deceased.
No comments:
Post a Comment