Hi
Can anybody please explain what is difference between Letter of Administration and Succession certicate.
And which can be opted ? And how much time it take to get issued ?
Thanks in advance.
Regards,
Vishal
Vishal Thakur (Technical consultant) 30 July 2013
Hi
Can anybody please explain what is difference between Letter of Administration and Succession certicate.
And which can be opted ? And how much time it take to get issued ?
Thanks in advance.
Regards,
Vishal
PARUL (Lawyer) 30 July 2013
Succession certificate is issued by a civil court to the legal heirs of a deceased person. If a person dies without leaving a will, a succession certificate can be granted by the court to realise the debts and securities of the deceased. It establishes the authenticity of the heirs and gives them the authority to have securities and other assets transferred in their names as well as inherit debts. It is issued as per the applicable laws of inheritance on an application made by a beneficiary to a court of competent jurisdiction. A succession certificate is necessary, but not always sufficient, to release the assets of the deceased. For these, a death certificate, letter of administration and no-objection certificates will be needed.
Letter of Administration, upon death of a person or leaving his property without assigning any legal heirs for that property will arise the question who will be the owner for that property. In that case a person who feel that he/she is eligible to be legal heir for that property can apply for the Letter of Administration to the local court. After the property inquiry, if the court satisfied it will appoint that person as the owner for that property.
Hence you may need both to be the legal heir !!! Regarding the time required, it may differ according to procedure & city applied in.