Cross-Border Succession: Indian Assets Of A Foreign Resident

INTRODUCTION We live in a global village and cross-border acquisition of assets has become an extremely common phenomenon. Cases of both, Indians acquiring assets abroad and foreign residents acquiring Indian assets, are increasing. With this come issues of cross-border succession and Wills. What happens when a person living abroad dies leaving behind Indian assets and when an Indian resident dies, leaving behind foreign assets? Which law should apply and which Wills would prevail? These are some of the myriad complex questions which one grapples with in such scenarios. Let us, in this month’s Feature, examine some such posers in the context of a foreign resident leaving behind Indian assets. APPLICABLE LAW OF SUCCESSION The first question to be addressed is which law of succession applies to such a foreign resident? The Indian Succession Act, 1925 (“the Act”) provides that succession to the immovable property in India, of a person deceased shall be regulated by the law of India, wherever such a person may have had his domicile at the time of his death. However, succession to his moveable property is regulated by the law of the country in which such person had his domicile at the time of his death. For example, A, having his domicile in England, dies in UK, leaving property, both moveable and immovable, in India. The succession to the immovable property would be regulated by the law of India but the suc