Huf
Riddhi Shah
(Querist) 11 February 2014
This query is : Resolved
My grandfather has expired and he was having an HUF so now do we need to make succession certificate even if there is no issue in my house relating to the property? We have to submit this certificate in the bank in order to claim the amount of his HUF account. Please guide us what to do and can we just make an indemnity bond from all the nominees and submit it to bank? It is urgent so please guide us
Rajendra K Goyal
(Expert) 11 February 2014
Bank should release the amount of deposit without succession certificate. RBI and IBA has given clear guidelines in this regard.
If one of the co-parcener dies, Karta can operate the account provided that the deceased has not left a will. In the event of death of Karta, operations should not be allowed and payment will be made against the joint discharge of surviving co-parceners.
Application, affidavit, indemnity bond, letter of relinquishment, receipt, death certificate are the requirement.
Riddhi Shah
(Querist) 12 February 2014
thank you. now i am relieved.i will talk to the bank and i hope they agree with this
