For bank accounts and land
lakshmi
(Querist) 02 October 2014
This query is : Resolved
Dear Experts,
My mother passed away recently and my father is a retired government employee.Iam the only child(daughter and married) of my parents and my father stays with us. My mother had FD's, RD and land in her name. My mother gave my name as a nominee for one of her bank accounts and demat account. However, nominee for RD has not been given. My queries are
1. Do we(father and myself) need to submit a legal heir certificate or succession certificate to claim the RD or FDs.
2.How to get the land in my mother's name transferred in my father's or my name? My father says he would like to gift that land to my minor sons, as per my mother's wishes.
What legal documents do we require?
Thanks in advance for any information.
adv. rajeev ( rajoo )
(Expert) 02 October 2014
To get the FDs or RDs succession certificate is necessary, which can be obtained by the court by filing Probate and Succession certificate case.
To get transfer the property, you will have to file an application to the concerned department along with survivors certificate issued by Tahasildar of your taluk. After submitting these documents your name and your father's name will be entered to the property. After this you will have to relinquish your share to your father and so on your father in the name of minor sons.
ajay sethi
(Expert) 02 October 2014
apply for letters of administration from court for movable and immovable property left by your mother
Rajendra K Goyal
(Expert) 02 October 2014
Obtaining succession certificate is time and cost consuming. Not recommended.
The nominee can claim the balance in the account by submitting the death certificate, request letter, KYC formalities. If the RD account is linked with the saving account Bank can either transfer the outstanding to saving account or can release the amount after taking affidavit and indemnity bond.
Property can be mutated on the basis of death certificate and heirship certificate.
lakshmi
(Querist) 02 October 2014
Thanks a lot to all the experts.That pretty much clarifies my doubts.
The amount towards the RD was being deducted from my father's salary account, which infact was a joint account of my parents.
A couple of quick queries,
1)How long will the process of preparing the affidavit and indemnity bond take?
2) The heirship certificate, Iam told, can be issued by the MRO. However, according to some earlier posts on these forums, the MRO's are not authorised to issue the legal heirship certificates (in Andhra Pradesh)anymore and we need to approach the civil court. Can you please let me know from whom I can get the heirship certificate?
Thanks in advance.
Dr J C Vashista
(Expert) 03 October 2014
A 1. One/tenth of a working day will be sufficient to preapre affidavit and indemnity bond, it it typed and attested by Notary.
A2. Approach your area Tehsil/Talik/Sub-Divisional Magistrate for heir certificate.
I agree with the expert advise of Mr. Rajendra K. Goyal, approach the Banker for release of amount held with them and mutation of property may be got sanctioned through taluk office.
Rajendra K Goyal
(Expert) 03 October 2014
1. You have to search the person acceptable by the Bank to sign the affidavit and indemnity. Person preferably should have account with the Bank (i.e. known to the Bank), worth should be more than the amount involved. preparing of these document is just one hour job, affidavit need to be attested while indemnity need not be attested. The language should be taken from the Bank branch.
2. For heir ship certificate confirm locally whether who is the authorized to issue.
K.K.Ganguly
(Expert) 03 October 2014
1. For the Accounts of your mother against which no nominee have been specified, you shall have to submit succession certificate to the Bank,
2. With the said succession certificate, you can transfer the property of your mother in your name or your father can gift his 50% share of your mother's property to you or your sons,
3. If you find that Succession certificate is taking time to get from the Court, the immoveable property of your mother can be transferred in your and your father's name by submitting legal heir certificate also which can be collected easily from the tehshilder/B.L.R.O.,
4. Bank will demand Succession Certificate for giving the amount left in the accounts of your mother for which she has not specified any nominee.
lakshmi
(Querist) 06 October 2014
Thank you all, for the expert advice. We shall do accordingly.
T. Kalaiselvan, Advocate
(Expert) 07 October 2014
As far as bank FDs are concerned, I agree with the views and suggestions made by expert Mr. Rajendra Goyal. The property left behind by your mother will devolve on her legal heirs equally, i.e., you and your father, so you both can execute a partition deed, get it registered and with the copy of the registered partition deed, you both can apply for mutation of property on individual's name, after which your father can execute a gift deed in favor of your minor son in respect of his share of property. Take the help of a lawyer who will be guide you properly.
malipeddi jaggarao
(Expert) 08 October 2014
As far as FDs and RD are concerned I too agree with the suggestions of Mr.Rajendra Goyal.
Regarding alienation of property in the names of children, expert Shri Kalaiselvan has perfectly guided you. No need to add more on both the issues.
lakshmi
(Querist) 16 October 2014
Thank you experts for your timely and appropriate advise.
This is how we got the FD amount of my mother for which there was no nomination.
We obtained the "surviving family members certificate" from the MRO of the place where my mother was last residing.My father's name and my name were mentioned in it.It was clearly stated that it was not a legal heir certificate. Also, its validity is one year.
The other documents asked by the bank as per the "deceased settlement record" were 1) Letter of disclaimer signed by myself saying I will not stake claim, with notary signature
2) letter of indemnity on a Rs.200 stamp paper signed by my father and guarantor, no notary sign required,
3) affidavit by 2 witnesses on a Rs.200 stamp paper, saying they know us for over 20+ year, notary signature required.
4) We had to fill the details like the assets we are claiming, the name of the husband, children, her parents, her siblings etc in the claim format
5) death certificate
The guarantor (surety) should not be related to us and should have networth of twice the amount to be claimed.
My father, guarantor and person submitting the affidavit had to provide ID proof, Address proof and a photo.In addition, the guarantor had to provide copy of IT returns, property details etc and fill out a form "Opinion report on surety".
After providing all these documents, the cheque for the amount was handed over to my father.
Also, for the benefit of layman let me point out something. The FD's on maturity were credited to my mother's bank account for which I was the nominee (when she was alive and used to sign on maturity). However, after my mother's death,those FD's which have no nomination keep getting renewed until the time it is claimed i.e,after submitting all the above documents.
We are yet to get the property transferred. However, as the experts mentioned, I have the survival members certificate which is required to get the property transferred.I shall update my experience on the same.
Thank you all the experts for your guidance. We could go prepared and could get the work done faster.
PS: Please feel free to delete this post, if it does not adhere to the forum guidelines
T. Kalaiselvan, Advocate
(Expert) 16 October 2014
You are welcome for your appreciations, all the best for your future attempts too.
malipeddi jaggarao
(Expert) 17 October 2014
We are also happy to know that someone could solve his/her problem basing on our advice.
V R SHROFF
(Expert) 17 October 2014
THANKS FOR APPRECIATION OF LCI TEAM
ajay sethi
(Expert) 17 October 2014
thanks for your appreciation
