Hi,
I wish to understand the meaning of the term "legal Heirs" that's widely used in legal contracts ranging from property deeds, loan agreements to company/business contracts as per the Indian Laws.
Also please explain what liabilities do the legal heirs have in case the signatory defaults...Are the personal assets of legal heirs at risk in such a scenario????
If the ascendants of the signatory legally oust him from the right to inheritance, does it help shield the ascendant's assets from being at potential risk????
Thanks in advance!
Rajat Kumar
