Bank account with no nominee
DMoss
(Querist) 09 July 2010
This query is : Resolved
The father passed away in India. He has a saving account of about 4 lacs. He left no nomination. The bank is asking for succession certificate. There is a daughter settled abroad, an old mother and a son in another State in India.
1.Can succession cert be got from another State than that the father passed away in.
2.What are the procedures?
3.How much would this procedure cost?
Kindly advise!
Thanking you.
Parthasarathi Loganathan
(Expert) 09 July 2010
Based on legal heirship certificate a application for succession certificate can be filed in a court quantifying the receivables
Arvind Singh Chauhan
(Expert) 09 July 2010
You have to file suit for succession certificate with the requisite court fee, which depends on the amount to be paid. All legal heirs and relatives are joined as party. It take no long time if the matter is not contested. You should take the help of local lawyer.
DMoss
(Querist) 10 July 2010
Mr. Pathasarathi, thank you for reply. Is it necessary to have legal heirship cert in order to get succession cert?
Thank you Mr. Shashikumar & Mr. Arvind. Can the succession cert be obtained from any where in India?
Chanchal Nag Chowdhury
(Expert) 10 July 2010
NO. the succession certificate has to be obtained from the court where the A/C. is . However, succession certificate may be obtained from another State provided U can show other moveable assets payable to your father's estate in that State.
Parthasarathi Loganathan
(Expert) 10 July 2010
Yes, Succession Certificate is a sort of Decree passed by Court having the requisite jurisdiction quantifying the monetary claims.
DMoss
(Querist) 11 July 2010
Mr. Chowdhury, the father has no moveable assests. It is only the bank a/c that we are talking about. The bank manager says that it is okay to get the succession cert from another state where the son dwells to save time in travelling, however this is all done verbally and we do not want any complications to arise later.
All advice is greatly appreciated!
DMoss
(Querist) 11 July 2010