Succession certificate

if your son had made nomination on attaining major. then the issue of uccession certificate does not arise. if nomination is not done, then succession certificate is a must.

This is issued by the Court only.

Regards,

Advocate Rohit Dalmia

9324538481

Mumbai

ftp://ftp.ptcinfo.org/.../Reading%20material%20on%20claims.pdf

The basis for claim settlement are:

A.  Nomination

B.  Legal evidence

C.  In case of no nomination - without production of legal evidence up to a balance of

Rs.1 Lakh.

SB Claim settlement on legal evidence

If there is no valid nomination at the timeof the death of the depositor, Claim can be

settled on production of legal evidence.

The legal evidences are: Probate of will; SuccessionCertificate & Letter of

administration

---Page 104:

87. PAYMENT OF THE AMOUNT OF SAVINGS BANK ACCOUNTS IN THE NAME OF

DECEASED DEPOSITORS

(1)  Basis of Settlement of claims:- The claim to the amount ofSavings Bank Accounts standing

in the name of deceased depositor may be made on the basis of:-

(a)  Nomination

(b)  Legal evidence

(c)  Without the production of legal evidence at the discretion of sanctioning authority up to Rs.

1,00,000.

If the claim exceeds Rs. 1,00,000/- the claimant should be advised to obtain a succession certificate

from a competent court of law or produce the probate of a will or letters of Administration ofEstate of the

deceased.

Note 1

----Page 87:

12A.   Payment of heirs: -  (1) If a person who is the holder of a Savings Certificates, dies and there

is no nomination in force at the time of his death and probate of his will or letters of administration of his

estate or a succession certificate granted under  the Indian Succession Act, 1925 (39 0f 1925) is not,

within three months of the death of the holder, produced to the authority specified in the Table to sub-rule (2), and if the sum due on all Savings Certificates does not exceed one lakh rupees (inclusive of the

sum due on the Savings Certificates issued from time to time and held by the deceased), the authority

mentioned in the said Table may pay the same to any person appearing to it to be entitled to receive the

sum or to administer the estate of the deceased.

(2) The authorities specified in the Table below shall be competent to sanction claims upto the

limit noted against each on the death of the holder of the Savings Certificates without production of the

probate of his will or letters of administra tion of his estate or succession certificate granted under the

Indian Succession Act, 1925 (39 0f 1925).

Attached

As we were waiting for maturity which were falling due in april/ may 2012, this happened in Feb end and we never anticipated to this to plan nomiation etc.

I was going thru the net and it is mentioned in one article that the court fee max  slab is  7.5% and max amount is Rs 75000. But in one querry regarding couirt fee in UP, the reply says it is around 8.75% in UP. Is the court fee not uniforming in all states as per Indian Succession Act?