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ranjith   16 May 2017

Succession certificate

Want to understand when a succession certificate will be required and when legal heir certificate is required?

Scenario: Father and mother passed away. Only child left. The bank/pension/benefits etc of the deceased father/mother left without nominee. The Child is the only legal heir.

a) For the child to claim the funds, does this require a succession certificate? 

b) What is the procedure for getting this certificate?

c) Is there any payment to be made for getting succession certificate in case the amount is more than 1 lac?

Thanks



Learning

 6 Replies

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     16 May 2017

Difference between succession and legal heirship certificate Legal Heir Certificate is issued from revenue office of the district to identify a particular deceased person living heirs. A succession certificate is issued by a civil court to the legal heirs of a deceased person.

Kumar Doab (FIN)     16 May 2017

The regulator RBI has issued guidelines to adopt simplified procedure and your bank must have set min. threshold limit.

Check with Bank’s Deceased depositor a/c  with nomination policy that should be available on Bank’s website, in bank.

Kumar Doab (FIN)     16 May 2017

 

RBI: Master Circular on Customer Service in Banks

20.2 Accounts without the survivor / nominee clause

In case where the deceased depositor had not made any nomination or for the accounts other than those styled as "either or survivor" (such as single or jointly operated accounts), banks are required to adopt a simplified procedure for repayment to legal heir(s) of the depositor keeping in view the imperative need to avoid inconvenience and undue hardship to the common person.  In this context, banks may, keeping in view their risk management systems, fix a minimum threshold limit, for the balance in the account of the deceased depositors, up to which claims in respect of the deceased depositors could be settled without insisting on production of any documentation other than a letter of indemnity.

 

https://www.rbi.org.in/Scripts/BS_ViewMasCirculardetails.aspx?id=9008

Kumar Doab (FIN)     16 May 2017

For Legal Heir Certificate: Check with O/o Tehsildar.

Chaitanya Limbachiya ADVOCATE (ADVOCATE)     16 May 2017

Legal Heir Certificate is given by revenue officer like tehsildar or mamlatdar of the district to identify a particular deceased person living heirs.

Succession Certificate is issued by a civil court to the legal heirs of a deceased person where no valid id proofs as to heirship is available.
 

Nitish Banka (lawyer)     09 July 2018

 

About Succession certificate

A succession certificate is granted by the court in order that legal heirs get a full authority to control the debts and securities of deceased father or mother, husband or wife. Now since after death of a person a legal heirs are the immediate persons who will get the movable assets of a deceased person. The process of succession certificate is a summary process to determine the authenticity of legal heirs.

 

succession certificate

 

About Application to get succession certificate.

In order to get the succession certificate an application under section 372 of Indian succession act is to be filed in the court of senior civil judge, jurisdiction is determined on the basis of where the decease resides or where his assets are situated.

Procedure

The civil judge will examine the application and on first date of hearing would pass following orders

->Publication in leading newspaper.

-> Order SDM of deceased residence to examine legal heirs.

-> order the bank where assets are situated to come up with all records.

Once these steps are cleared and there is no opposition and statements of all legal heirs are recorded the court would grant the succession certificate by furnishing indemnity bond an surety.

If you have queries send here

 

 


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