Please advise/ suggest.
A person expires leaving an Individual nominated a/c. After some time nominated person expires too. Do we need succession for remaining legal hiers.
ABCD (HR Consultant) 20 February 2014
Please advise/ suggest.
A person expires leaving an Individual nominated a/c. After some time nominated person expires too. Do we need succession for remaining legal hiers.
adv.raghavan (Advocate,9444674980) 21 February 2014
Yes it is needed to get movable assets.
T. Kalaiselvan, Advocate (Advocate) 21 February 2014
In some places, like Banks and insurance companies, if the amount is less than 5 lakhs, they do away with the succession certificate on the basis of indemnity bonds, check up with the authorities.
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