Section 372 of indian succession act-
ASIM
(Querist) 28 June 2014
This query is : Resolved
Sir, My query is whether a Succession Certificate u/s 372 of the Succession Act can be given in respect of contents kept in a Locker of a Bank.
Background- 'A' died without leaving a will. There is no nomination in respect of a Locker A/C with a Bank. The legal heirs want to have access to the said Locker. Can they apply to the Court for issue of Succession Certificate in respect of contents of a Locker. Respected Experts, please guide...
Kumar Doab
(Expert) 28 June 2014
>>> If you have consulted a lawyer your lawyer would have clarified the matter already to you.
>>> Regulatory guidelines stipulate that each new account/ locker needs to be nominated. However if an account / locker holder does not wish to register a nomination on his account/ locker, the customer needs to explain the reasons for not registering a nomination to the Bank in writing. This letter will need to be signed by all the account / locker holders. In case the customer refuses to provide the explanation, the Bank needs to annotate the account opening / locker forms accordingly.
>>> Legal Representation is by:
Succession Certificate / Probate of Will / Letter of Administration.
>>> In other thread initiated by you at:
http://www.lawyersclubindia.com/experts/INDEMNITY-BY-A-US-CITIZEN-INDIAN-LAW-472326.asp#.U66p75SSwb8
Your other query was pertaining to: Deceased Depositor SB A/c with bank----without nomination.
This query by you is pertaining to: Deceased Depositor Locker A/C with a Bank- Without Nomination
You may once again refer to RBI guidelines as narrated in :
RBI / 2009-10/ 57
DBOD.No.Leg. BC.9 /09.07.006/2009-10 July 1, 2009
Master Circular on Customer Service
21.2 Access to the safe deposit lockers / return of safe
custody articles (without survivor/nominee clause)
21.2. There is an imperative need to avoid inconvenience and undue hardship to legal heir(s) of the locker hirer(s). In case where the deceased locker hirer had not made any nomination or where the joint hirers had not given any mandate that the access may be given to one or more of the survivors by a
clear survivorship clause, banks are advised to adopt a customer-friendly procedure drawn up in consultation with their legal advisers for giving access to legal heir(s) / legal representative of the deceased locker hirer. Similar procedure should be followed for the articles under safe custody of the bank.
21.3. Preparing Inventory
21.3.1. Banks should prepare an inventory before returning articles left in safe custody / before permitting removal of the contents of a safe deposit locker as advised in terms of Notification DBOD.NO.Leg.BC.38/ C.233A-85 dated March 29, 1985. The inventory shall be in the appropriate Forms set out as enclosed to the above Notification or as near thereto as circumstances require. A copy of the above Notification is shown as Annex IV of this circular.
21.3.2 Banks are not required to open sealed/closed packets left with them for safe custody or found in locker while releasing them to the nominee(s) and surviving locker hirers / depositor of safe custody article.
21.3.3. Further, in case the nominee(s) / survivor(s) / legal heir(s) wishes to continue with the locker, banks may enter into a fresh contract with nominee(s) / survivor(s) / legal heir(s) and also adhere to KYC norms in respect of the nominee(s) / legal heir(s).
21.4 Simplified operational systems / procedures
21.5 Customer guidance and publicity
>>> IBA has issued:
Model Operational Procedure for
Settlement of Claims of Deceased Depositors
>>> The bank is under obligation to provide without any cost, certified copy of the printed version of RBI guidelines and bank policy in such matter………………………………..
Like in case of Bank of Baroda:
Safe Custody Articles / Safe Deposit Lockers:
Without Nomination:
Access to the locker may be permitted to the legal heirs on production of satisfactory evidence to inspect the contents of the locker which may be delivered against the following documents.
1. Death Certificate ((Duly certified as mentioned in 1 (i)
2. Claim application in the prescribed form no.33, consent letter of all other claimants (available with the branch)
3. Succession Certificate / Probate of Will / Letter of Administration.
4. A form of inventory of articles left in safe custody with the bank form no.350
5. A form of inventory of contents of safe deposit locker hired from the bank.
(Appendix II)
6. Stamped receipt / discharged safe custody receipt or receipt for delivery of securities pledged to the bank. (in case so applicable)
In exceptional cases, where the contents of the locker / safe custody articles are not of great value / importance, the heirs of deceased rental may be allowed to access to the locker and withdraw the contents against usual indemnity in addition to above documents except Succession Certificate/ Probate of Will / Letter of Administration (Request letter to be submitted by legal heirs as per Appendix-I)
The above requirements are as per the existing guidelines of the bank and are subject to change from time to time.
Click here to download formats to be filled in by claimants
http://www.bankofbaroda.co.in/pfs/dep_deceased.asp
Rajendra K Goyal
(Expert) 28 June 2014
The legal heirs should approach the bank to open in presence of and prepare inventory of the contents of locker duly before / and signed by legal heirs, bank manager, one officer of the Bank and two independent acceptable to all witness.
On the basis of inventory thus prepared, succession certificate can be applied.
R.K Nanda
(Expert) 28 June 2014
consult local lawyer.
ASIM
(Querist) 12 July 2014
Respected Nanda Sir, Thanks for advising me to consult a local lawyer. He has clarified the position to me that succession certificate in terms of Sec 372 of Succession Act does not apply to contents of locker in the Bank. He is now preparing for applying for a letter of administration. Regards....
