A civil court judge of the relevant jurisdiction can grant a Succession Certificate to the legal heirs of an individual dying intestate, leaving behind unclaimed securities and debts. A person is deemed to have died intestate when he/she has not made a legal will. A Succession Certificate empowers the certificate holder to inherit the securities and debts of the deceased and to negotiate and/or transfer them.
The Certificate gives indemnity to all individuals having such debts or having liabilities on such securities, in regards to the payments made to or dealings made in good faith with the certificate holder. Hence, many people and organizations look for a Succession Certificate while settling the securities/debts of the deceased. The certificate should be in favor of the individual claiming such securities/debts.
Benefits of A Succession Certificate
- In the absence of nomination or will, the heir to a piece of property or financial assets is required to prove his/her claims to them. In such cases, depending on the asset, an heir might be asked to produce either a Succession Certificate or a letter of administration.
- For a movable property like the provident fund, bank deposits, shares, loans, or other securities, a Succession Certificate is required.
- For an immovable property like land or jewellery, one has to produce a letter of administration in support of his or her claim.
Checklist for obtaining A Succession Certificate
To obtain Succession Certificate,
- A petition to the district judge within whose jurisdiction the deceased person ordinarily resided at the time of his or her death, or
- If at that time the deceased did not have a fixed place of residence, a petition to the district judge within whose jurisdiction any part of the property of the deceased may be found.
How StartupGenie Helps In Procuring A Succession Certificate
Creation Of Application
We will connect you with experienced lawyers, who will prepare the application for a Succession Certificate after collecting all the required documents.
Filing Of Application
If the district judge is satisfied with the preparation of the petition, an opportunity will be granted to hear the person who, in his/her opinion, should be heard. After hearing from all parties, the judge will decide the right of the petitioner, to be granted the Succession Certificate. The judge would then pass an order to grant the certificate.
FAQ’s on Succession Certificate
When can courts grant a Succession Certificate?
The civil court judge will decide on the rights of the petitioner after hearing from the parties concerned. Then, the judge would pass an order to issue the succession certificate, specifying the list of debts and securities sought by the petitioner
What are the restrictions on issuing a Succession Certificate?
At times, a court can require the petitioner to furnish a bond with security or with one or more sureties. This is for indemnifying him in case of a possible loss of debts/securities, arising out of any use/misuse of the succession certificate.
What is the geographical validity of a Succession Certificate?
A Succession Certificate made in any part of India stands valid anywhere in India.
What is the procedure to be followed in case a Succession Certificate is issued in a foreign country?
If a succession certificate is issued to an individual in a foreign country, by an Indian representative appointed by the Government of that country, it should be stamped properly to have any kind of validity in India. The certificate should be stamped as per provisions mentioned in the Indian Court Fees Act of 1870.
What is meant by Letters of Administration?
If someone dies intestate, before administration of the estate is entrusted to someone or when no executor is appointed under the will of deceased or when an executor is appointed but he refuses to act, then the Letters of administration may be issued. These are issued to entitle the administrator to all the rights required for the effective administration of the estate of the deceased.