Succession certificate for bank

Sanjay (Querist) 15 February 2012 This query is : Resolved
Dear Sir,

I am from Mumbai.
My brother-in-law had expired 45 days back.
There is some balance amount of Rs.20 Lacs in Cooperative Bank. when my sister went to bank, the Bank Manager asked sister to produce Succession Certificate to claim the money.
Please guide me with the
1. Procedure for this
2. Whether any alternative document can be produced against this
3. Any amount like court fees, etc required & how much.

Thanks in advance.

Sanjay

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RadhikaReddy (Expert) 15 February 2012
If u want Succession certificate, for 20 lacs
u hve to pay about 7% as court fee i.e for abt 1.25 lacs nearly...
I recommend u to produce guarantee deed/indemnity bond/family member certificate n to get a no objection certificate from an official like MRO etc.
Since it is a co-operative bank I hope the bank rules accept these certificates..
Pls verify with ur bank rules..

M.Sheik Mohammed Ali (Expert) 15 February 2012
with in one year death of person, their legal heirs get legal heir certificate from thasildar.

ajay sethi (Expert) 15 February 2012
in mumbai we dont have legal heirship certificate . procedure is to obatin succession certificate . since amount involved is large bank is justifed in taking precautions .

is your sister only legal heir . request the bank whether she can give indemnity bond /sureties for release of funds

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