Succession Certificate vs Surviving Members Certificate

Anil Gandhi (Querist) 24 April 2011 This query is : Resolved
What is difference between Succession Certificate & Surviving Members Certificate ?
Further,can Surviving Members Certificate be used in lieu of Succession Certificate by the legal heirs of the deceased to claim bank account/demat account balance as well post office savings account balance of the deceased where no nomination has been made & the amounts in the said accounts is in excess of the threshold limit of Rs.1 lakh.

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M V Gupta (Expert) 25 April 2011
Not heard about surviving member certificate. Some one seems to have mentioned it wrongly as surviving member certificate instead of succession certificate. You have to produce succession certificate for caliming demat account/bank balances etc. However in the case of bank balances, if the amount is small the bank may release the amount to the heirs on produciton of affidavit of the leagl heirs of the deceased account holder in the prescribed form and indemnity bond.

Anil Gandhi (Querist) 25 April 2011
I am in possession of Surviving Member Certificate issued by SDM office,Mehrauli,New Delhi which shows the legal heirs of the deceased.I can scan the same & send it to you on your email id for your info.

M.Sheik Mohammed Ali (Expert) 25 April 2011
very good explaination Mr.Gupta

Guest (Expert) 29 April 2011
Surviving members certificate cannot replace the succession certificate wherever needed by law, as per the rules of the concerned organizations.

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