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A grant of probate is the legal document that an executor of a will uses as proof of their right to manage the financial and legal affairs of the deceased person.
A grant of probate is only issued to the named executors of the will, while letters of administration are issued to the person who is entitled to inherit under the rules of intestacy, if the deceased died without a will.
The grant of probate is a certificate provided by the Probate Registry of the Court which confirms that executors named on the grant have the authority to deal with the administration of the deceased's estate.
A BVI grant of probate, or letters of administration, is required to validly deal with BVI assets held by a deceased person. This is most commonly required for shares in a BVI company (or other entity).
You can use form PA1S to ask to be sent a copy of a probate if it's granted in the next 6 months. This is called a 'standing search'.