Succession certifivate and lrgal heir certificate

Ankit (Querist) 11 May 2017 This query is : Resolved
Mrs X died on 19/11/2011, she had in her name demat account shares, balance in savaings bank account and also a property in her name. and now that is to be transmitted to her son Mr Y. She also had other sons and daughter and they are also not opposing in such transfer. please tell me the procedure to do so. such assignment is taken in hyderabad

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Kumar Doab (Expert) 11 May 2017
The delay of 6 years, could have been avoided.

It is believed that Mrs X was Hindu.
Confirm!

Kumar Doab (Expert) 11 May 2017
Equity shares, Bank a/c : Does valid nomination exists?

Immovable Property: In cased of Hindu woman the nature of property and its source matters.

In case of self acquired/absolute property of deceased Hindu female the 1st right is of: husband, sons, daughters……………..

Husband if alive and other sons and daughter (and they are also not opposing in such transfer, as posted by you) can relinquish/release/transfer/gift/sell etc etc ) their share in favor of Mr. Y by a valid/registered deed.

Kumar Doab (Expert) 11 May 2017
Copy of Original death certificate,legal heir certificate are basic requirements.

If Mrs. X (Mother) has not left a valid WILL then it is simple case of inheritance (Intestate Succession).

The procedure/forms/details for such matters (Intestate Succession) are usually available on website and O/o Authority e.g; MC, under whose jurisdiction property falls. Usually prescribed form with death certificate, legal heir certificate…………………are required to be submitted for updation in mutation records. Obtain latest mutation records showing ownership in the name of all legal heirs.

Thereafter all other legal heirs can dispose their share in favor of Mr.Y, as posted above by a valid/registered deed.

Obtain latest mutation records showing ownership in the name of Mr.Y.

Guest (Expert) 11 May 2017
Yours seem to be a purely an academic query, not a real problem.

Sri Vijayan.A (Expert) 11 May 2017
Death certificate and legal heir certificate are needed.
No objection by other heirs are to be issued.
Forms may be available with the bank and the other institutions for transfer of shares and account along with the NOC by other heirs.
Succession certificate is not required, if you have legal heir certificate, in this case.

Rajendra K Goyal (Expert) 12 May 2017
For Bank account :

If there is no nomination, apply to Bank with death certificate, affidavit and indemnity (from two known person to Bank having means above the amount involved), letter of renunciation from other legal heirs.

Submit Id proofs of all who have signed the documents.

Rajendra K Goyal (Expert) 12 May 2017
For demat account:

If no nomination in the demat account, apply to concerned companies with indemnity, affidavit, death certificate, legal heir certificate and other demanded documents to all companies to transfer the shares in the name of legal heirs.

Alternately you can proceed for getting succession certificate for Bank account and shares held.

Guest (Expert) 12 May 2017
Agree with Experts

Rajendra K Goyal (Expert) 12 May 2017
Submit the death certificate and the registered family settlement deed for property and get the property mutated accordingly.