What does intestate succession refer to?

Prepare for the Metro Brokers Exam with flashcards and multiple choice questions. Each question is accompanied by hints and explanations. Get ready for your certification!

Intestate succession refers to the legal process that determines how a person's assets are distributed when they die without a valid will. In such cases, the state laws come into play to dictate which family members or heirs will inherit the deceased's property and in what proportions. This ensures that the estate is settled fairly according to the established laws, making it an important aspect of estate planning and law.

The other options do not accurately capture the meaning of intestate succession. One option discusses the sale of property and another mentions correcting title errors, both of which are distinct legal concepts unrelated to the distribution of assets when someone dies without a will. Additionally, the appointment of an estate executor pertains to estate administration for those who have wills and does not apply in situations of intestate succession.

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