SUCCESSION CERTIFICATE – A Step By Step Approach -
GST
IMPACT OF GOODS AND SERVICES TAX ON TRADE AND INDUSTRY
June 21, 2017
transfer of property judgement
Transfer of Property Among Legal Heirs Judgment (Jul-19-2016)
August 9, 2017

SUCCESSION CERTIFICATE – A Step By Step Approach

Succession Certificate

How can you Get Succession Certificate in India?

Succession Certificate is a legal document awarded by the Courts in India to the legal heirs of a person dying intestate leaving mortgages and securities. An individual is said to have passed away intestate when he/she does not leave a proper Will. It authorizes the holder to make payment of a debt or transfer the security to the owner of a certificate without having to determine the legal heir designated to it. It provides reimbursement to all persons owing such debts or liable on such securities on all amounts made to, or dealings had in good faith with a person to whom a it was given. Hence, many organization and person request for the document before settling the debts or securities of the deceased in favor of the individual claiming such obligations.

Procedure for Obtaining Succession Certificate

To attain this instrument a petition to the District Judge must be filed. This petition should be filed in the jurisdiction where the late person ordinarily resided at the time of his or her demise or if at that point he or she had no firm place of residence, the District Judge within whose command any part of the property of the deceased may be detected.

Recommended: Steps to Inherit Property India

As per some eminent Property management lawyers following are the steps to attain the document:

Petition for the Certificate

A petition for obtaining the instrument must include the following mentioned facts:

  • Time of death of the deceased;
  • Residence or details of properties of the dead at the time of
  • the death and the judge and his/her jurisdiction under which it falls;
  • Details of family or other near kin;
  • The rights of the applicant;
  • Absence of any obstacle to the grant of certificate;

Grant of Certificate

On making the petition, if the District Judge is satisfied as to the ground of making the appeal, he/she can award an opportunity of hearing to persons who, in his/her opinion, should be heard. After listening to all individuals, the Judge can decide the right of the applicant to be awarded the instrument. The Judge would then pass an application for the grant of instrument designating the debts and securities outlined in the application permitting the individual to receive interest or dividend or to negotiate or transfer or do both.

Restriction on the document

A court can sometimes need a bond with one or more surety or sureties for providing an account of debts and securities received by the petitioner of the document for reimbursing the persons who may be entitled to any part of the debtor securities.

Validity of Succession Certificate

This instrument has validity throughout India. If a license is granted in a foreign country by an Indian representation credited to that State, it should be stamped by the Court Fees Act 1870 to have the same effect in India as a document awarded in India.

 

Also Read: How to Deal With Shared Ownership of Property

Leave a Reply

Your email address will not be published. Required fields are marked *