What is the difference between heirs and co- Heirs?
What is the difference between heirs and co- Heirs?
When a person dies, his or her property will be distributed according to specific legal rules. However, these rules are not the same for every country. In France, for example, only a spouse and children can inherit from a person. In other countries, in addition to spouse and children, heirs like grandparents or even brothers and sisters can inherit from a person.
There are two main types of heirs: co-heirs and sole heirs. A co-heir is somebody who inherits the same asset as another heir, but they don't inherit the share that would correspond to the other co-heir.
Heirs are beneficiaries of a person's estate; co-heirs are heirs to each other. Put simply, heirs inherit via the will, and co-heirs inherit via the intestate laws. (Intestacy is the absence of a will).
For example: Suppose that Jim dies and his wife, Mary, is an heir. Her sister Jane also survives Jim. They are both co-heirs. Mary inherits under Jim's will, but Jane inherits under the laws of intestacy because there was no valid will for Jim to leave property to her.
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Disclaimer: This is not legal advice and is simply an answer to a question and that if legal advice is sought to contact a licensed attorney in the appropriate jurisdiction.
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