Succession Certificate
S. SAILAKSHMI
(Querist) 28 November 2009
This query is : Resolved
Whatis a Succession Certificate? Can a succession certificate is useful for transfer of ownership between disputed heirs?
A V Vishal
(Expert) 28 November 2009
Succession Certificate can be granted by the court to realize the debts and securities of the deceased and to give valid discharge.
A succession certificate is a certificate when granted to the person empowers the person to receive interest or dividends
negotiate the transfer or any of them
with respect to the securities of a deceased person P.S: Securities means any bond, stock, debenture or security
He is required to dispose of the amount so realised in accordance with the rights of the person entitled thereto.
The person requiring the Succession Certificate may
File an application in the court, where the properties of your deceased relative are situated or where he / she normally resided.
Depending on the value of the estate of the deceased, the matter shall go to the type of court, which can conduct cases for that value [This is known as "pecuniary jurisdiction" of the court].
With the names of all other heirs of your late relative as the respondents in the matter.
Who may after notice to all concerned and a newspaper notice is also issued apart from mandatory notice to the respondents.
Upon the expiry of the time period (normally 1 and a half months) from the date of publication of the notice after the respondents have given their no objection.
The court passes the orders for issuance of the Succession Certificate to the person/s making such an application.
Judicial Stamp papers of sufficient amount (as per the prescribed court fees structure) to be submitted in the court, where after the Certificate is typed by the court staff, duly signed and sealed and delivered.
The certificate takes about 3-4 months from date of filing to receive your certificate
prakash vathore
(Expert) 28 November 2009
i agree with my friend a v vishal.
Raj Kumar Makkad
(Expert) 28 November 2009
Nothing to add more in the detailed reply of Vishal
yogesh
(Expert) 29 November 2009
Succession certificate issued by the District court and is issued when the the individual/owner died inestate without any will and the legal heirs will have to apply to the appropritae court under their jurisdiction for the same
It is useful in transfeering the money/stocks/securities of deceased to the legal heirs
joyce
(Expert) 04 December 2009
Good explination Vishal.
