Successions are most important where someone dies owning real estate.
Further, if a transaction is not of public record, a person not a party to the unrecorded sale can ignore it. Then, in later transactions with the property, all heirs can be fairly compensated and not left out of the transaction, and the person who buys it gets a clean title. Bank accounts, stock holdings, notes, and bonds should be listed in the succession judgment, or the bank or stock issuer doesn't have to recognize the heirs on their books. The judgment routinely orders all institutions to recognize the heirs on their books and pay any credits, dividends, or note payments to the heirs, and puts the force of the law behind the order. Also, the administrator or executor will make sure that any specific property willed to others will be delivered and a receipt obtained.