procedure to obtain succession certificate
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Succession Certificate Insights in India
In simple terms, a succession certificate is a document provided to the successor of a deceased person who has died without writing a will. It gives authority to the person who acquires it to represent the deceased for the purpose of collecting debts and securities due to him or payable in his name. The laws relating to succession certificate in India are governed by the Indian Succession Act, of 1925.
A succession certificate is the key in the absence of a will. If your loved one has departed from this world without leaving a will behind, this certificate will be needed for you to claim the properties of the deceased. Since most banks in india do not release funds or fds without a succession certificate, it is all the more important for you to acquire it from the court.
So basically a succession certificate is needed to establish the legitimacy of the heirs and give them the authority to get the deposits and other assets transferred in their names. Furthermore, the repayment of a deceased person’s debt will only be valid if it is paid by the succession certificate holder
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NRI LEGAL
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