Legal heir certificate

ambarish (Querist) 18 April 2012 This query is : Resolved
my father was a mutual fund sub broker ...n he didnt do nomination with the main broker ...now i have passed AMFI exam n also got ARN licence ...but i m not able to transfer dad's business ie AUM ( assets under management ) ...n i am also told to get legal opinion regarding legal heir certificate ..can it work ?? n how will i get this certificate at the earliest ?? also how much can it cost ??

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Devajyoti Barman (Expert) 18 April 2012
You need to obtain succession certificate for which the court generally takes 6-8 months of time.
Fees varies from advocate to advocate.

Nadeem Qureshi (Expert) 19 April 2012
Dear Ambarish
you should filed an application for Succession certificate u/s 372 of Indian Succession Act, 1925
372. Application for certificate.-
(1) Application for such a certificate shall be made to the District Judge by a petition signed and verified by or on behalf of the applicant in the manner prescribed by the Code of Civil Procedure, 1908 , (5 of 1908 .) for the signing and verification of a plaint by or on behalf of a plaintiff, and setting forth the following particulars, namely:--
(a) the time of the death of the deceased;
(b) the ordinary residence of the deceased at the time of his death and, if such residence was not within the local
1. Ins. by the A. O. 1950. 2 The words" G.- G.- in- C." have been successively amended by the A. O. 1937 and the A. O. 1950 to read as above.
limits of the jurisdiction of the Judge to whom the application is made, then the property of the deceased within those limits;
(c) the family or other near relatives of the deceased and their respective residences;
(d) the right in which the petitioner claims;
(e) the absence of any impediment under section 370 or under any other provision of this Act or any other enactment, to the grant of the certificate or to the validity thereof if it were granted; and
(f) the debts and securities in respect of which the certificate is applied for.
(2) If the petition contains any averment which the person verifying it knows or believes to be false, or does not believe to be true, that person shall be deemed to have committed an offence under section 198 of the Indian Penal Code. (45 of 1860 .)
(3) 1[ Application for such a certificate may be made in respect of any debt or debts due to the deceased creditor or in respect of portions thereof.]
feel free to call