Succession certificate
Agnibha Chatterjee
(Querist) 22 July 2015
This query is : Resolved
How come Succession certificate provides or guarantees indemnity to the debtors????Plz help me out
P. Venu
(Expert) 22 July 2015
Please state your problem, if any.
M V Gupta
(Expert) 23 July 2015
Succession certificate declares the persons who are entitled to succeed or deal with the estate of the deceased person. As such any debtor paying to the persons so certified by the Court will get discharge from the debt by paying the dues to such persons.
Kumar Doab
(Expert) 23 July 2015
Your query is to know indemnity to debtors????
You could have narrated the details.
The court may describe the successors and share of each successor.
If the debt exits the creditor can stake claim and charge on estate of borrower.........................and if borrower has deceased on estate that successors as per their share in succession certificate.
The successor can offer the share received and ask to write off the debt to that extent.
You may wait for the advise of experts.
