Sucession certificate
Ajay
(Querist) 29 March 2013
This query is : Resolved
This is in regards to transmission of shares in Demat account.
we have been told by the bank that since there is no nomination in my father's account i have to produce the succession certificate. i need to know 2 things basically. In all other requirements like property, bank Accounts and insurance policies my father has clearly indicated a nomination so there has been no problem at all. however strangely in this case i am told of no nomination indicated. so while declaring the estate value for the succession certificate do i declare all the things like property, bank accounts, policy etc or only the deemed value of shares in the demat account which is not more that 3 lacs as on date. also what kind of charges or percentage does court charge? we are from Mumbai. Looking for urgent guidance? since i have a sister who stays out of Mumbai and can be here for limited time only for any formalities.
ajay sethi
(Expert) 29 March 2013
court fees are maximum RS 75,000 . in your case you have no problems with other assets s. so need certificate only for shares ,it would depend upon market value of shares
Ajay
(Querist) 29 March 2013
Thanks you so much Sethi Sir for your response..Can you please advice how much time will this process take and will the legal heir have to make many visits to the court etc during this period for formalities..
ajay sethi
(Expert) 29 March 2013
6months . no your lawyer will do the needful .
Ajay
(Querist) 10 April 2013
Dear sirs
since i am from Mumbai i want to ask do i have to take up this issue of succession certificate in a local court like Borivali or do i have to approach any other place like in Fort, South Mumbai.
Also i have an elder sister who is currently with me but is about to leave out of town. for this purpose of succession certificate will her participation like signature etc be required or can she give a NOC or power of attorney etc for me to proceed with these formalities.
Appreciate & thank all your help till now..
ajay sethi
(Expert) 10 April 2013
succession certifcate has to be obtained from high court .mumbai .your sister can give you POA
