Succession certificate
umanath
(Querist) 10 July 2016
This query is : Resolved
I would like to know whether a succession certificate is required from a court of law for transfer of equity shares held by father to his son in case a will is left by the father bequeathing the said shares to his son.
Devajyoti Barman
(Expert) 10 July 2016
If Will is there the Probate is required to be obtained which dispenses with taking of Succession Certificate again.
umanath
(Querist) 10 July 2016
Can you please explain what is meant by a probate.
umanath
(Querist) 10 July 2016
Is the probate needed only after the death of the person who has left the will.
Kumar Doab
(Expert) 10 July 2016
The WILL exists.
So probate may be asked by agent/company.
Engage a very able counsel for probate of the WILL.
You may find another thread as relevant;
http://www.lawyersclubindia.com/experts/Transmission-of-shares-without-probate-of-will--601546.asp
Rajendra K Goyal
(Expert) 10 July 2016
You have not mentioned the quantity / market price of the shares.
Most of the companies transfers the shares of deceased person on getting affidavit, acceptable indemnity, legal heir certificate, Id proof of all concerns, application and other related documents from all legal heirs. If the shares are to be transferred in the name of one legal heir, other legal have to give renunciation affidavit / stamped agreement. It is cheaper and fast process.
Or
You can get the will probated from court and get the shares transferred on the basis of probate.
If there is no will, succession certificate is also an alternate.
R.K Nanda
(Expert) 10 July 2016
Nothing to add.
