Succession Certificate

Succession certificate is a document issued by a civil court to the legal heirs of a deceased person certifying the right full person to be a successor of each expired person. This certificate authorizes the successor to realize the debuts and securities of the dead person. Succession certificate established who legal heirs are and the authenticity of the successor. It is a certificate given to the successor of an expired person who dies without leaving a will. Further, it indicates the relationship of heir with the decreased providing details of other surviving legal heirs.

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LEGAL BITS YOU SHOULD KNOW

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Who can apply?

An adult person of sound mind and having an interest in the estate of the deceased can apply. The absorption may be in the form of a relative of the expired, a person having a beneficial interest in the debt of security, etc. The rights and guarantee of debts/ investments are valid even before the legal heir to the property of the deceased is accepted.

How to apply

How to obtain a succession certificate

  1. Application:

A petition in the prescribed format must be made to the competent Civil court—within whose jurisdiction the legal heir claiming the asset of the deceased person. A petition should contain the names of all heirs details about time, Date, and place of death mention in the application. A copy of the death certificate has to produce.  

  1. Notice in a newspaper:

Once the petitioner has received, the court publishes a note in the newspaper to the entire defendant. The notification calls for objections, if any, to the issuance of the inheritance certificate and provides for forty-five days to do the same with the necessary documentary evidence.

  1. Issuance of the certificate

At the end of the period, if the court receives no response and no one disputes the petition, the court makes an order on the inheritance certificate in favor of the petitioner.

  1. Legal costs:

The courts take a fixed percentage value of the estate as court costs for the issuance of the certificate. It must be paid in the form of judicial stamps in a sufficient amount, after which the certificate is typed, duly signed, and delivered.

Effect of the certificate?

The principal purpose of this certificate is to protect all debts were payments made in good faith. The certificate holder is empowered to receive any interest/ dividend on the securities and negotiate or transfer such securities as mentioned in the certificates. All payments made to and by the certificate holder on behalf of the deceased person will be legally valid. 

However, this does not necessarily mean that the certificate holder is the owner of the securities or the legal heir determined by the separate procedure of law.

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Key updates

A progression declaration is an impact throughout entire India according to segment 380 of The Indian Succession Act 1925 (in this after alluded as the Act). As indicated in part 381 and 386 of the Act, a progression authentication is indisputable as against the individual at risk to who full reimbursement is managed (make accessible) for installments made. Be that as it may, despite the progression testament is just indisputable of the delegate title of the holder thereof as against the indebted individuals, a suit of the announcement will not lie that the holder of the declaration is not the legitimate agent of the perished.