A crucial document issued by the Courts to legal heirs of persons who have died intestate (without a will).
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How Is A Succession Certificate Used?
What is a Succession Certificate?
A Succession Certificate is a certificate granted by Civil Courts in India to the legal heirs of a person dying intestate (without a will) leaving unclaimed debts and securities. A person is said to have passed away intestate when he/she does not leave a legal will. A Succession Certificate entitles the holder of the certificate to make payment of debts or transfer securities on behalf of the deceased, without having to ascertain the legal heir entitled to do so.
The Succession Certificate provides indemnity to all persons owing such debts or liable on such securities with regards to all payments made to, or dealings in good faith, with the person to whom the certificate as granted. Hence, many organisations and people request a Succession Certificate before settling the debts or securities of the deceased, in favour of the person claiming such debts or securities. The Succession Certificate is issued according to the applicable law of inheritance.
Benefits of A Succession Certificate
- In the absence of nomination or will, the heir to a piece of property or financial assets is required to prove his/her claims to them. In such cases, depending on the asset, an heir might be asked to produce either a Succession Certificate or a letter of administration.
- For a movable property like the provident fund, bank deposits, shares, loans, or other securities, a Succession Certificate is required.
- For an immovable property like land or jewellery, one has to produce a letter of administration in support of his or her claim.
Checklist for obtaining A Succession Certificate
- The death certificate of the deceased, with the time of death.
- Residence or details of properties of the deceased at the time of death, within which the jurisdiction falls under.
- Details of family or other relatives of the deceased.
- The rights of the petitioner.
- Absence of any impediment to the grant of certificate.
FAQs on Succession Certificate
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