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Gaurav   23 July 2016

Succession certificate for demat account transfer

Respected Sir,

My father passed away 6 months back, amongst all his investment he had nominee registered, but only his demat account didn't had nominee.

Now I am told that to transfer demat shares from my father's account to my account , I need succession certificate since value of holding is > 5 lakh.

From my initial readings I am little confused, as someone says succession certificate from Mamatdar office will suffice, where others say I need to go district court.

Secondly if it has to be done in court, do all legal heirs need to be present in court physically? What if one of legal heir is not residing in country currently.

 

Thanks in advance.

 

 

 



Learning

 7 Replies

Kumar Doab (FIN)     23 July 2016

 

You are told verbally in writing?

 

Kumar Doab (FIN)     23 July 2016

First write/apply for transmission.

You will get written response.

 

Kumar Doab (FIN)     23 July 2016

Court of Pecuniary jurisdiction shall issue the requisite certificate.

Gaurav   23 July 2016

Kumar doab, I went to office where demat account is operated from, they told me verbally after checking with NSDL to get succession certificate.

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     23 July 2016

Succession certificate is required to claim
movable valuables.like shares of investments, bank balance etc. 

Kumar Doab (FIN)     23 July 2016

First write/apply for transmission.

You will get written response.


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