Succession Certificate Meaning
A succession certificate is a legal document issued by a competent court to the legal heirs of a deceased person. It authorizes the certificate holder to collect or receive the debts and securities of the deceased, such as bank deposits, shares, bonds, and other financial assets. In India, the procedure for obtaining a succession certificate is mainly governed by the Indian Succession Act, 1925. It is generally required when a person dies without leaving a will and the heirs need legal authority to deal with the deceased person’s movable assets.
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How To Obtain Succession Certificate?
1. Determine the Competent Court
The application for a succession certificate is generally filed before the District Judge having jurisdiction over the place where the deceased ordinarily resided at the time of death. If the deceased did not have a fixed residence, the application may be made before the court having jurisdiction over the place where the deceased’s property is situated.
2. Prepare the Application
The legal heir or another person entitled to apply must submit a petition to the competent court. The petition should contain important details, including:
- The date, time, and place of death.
- Residence of the deceased.
- Details of the deceased’s family and legal heirs.
- Relationship between the applicant and the deceased.
- Details of the debts and securities for which the certificate is required.
- Absence of any legal impediment to granting the certificate.
A copy of the death certificate and relevant documents proving the relationship with the deceased should normally be attached.
3. Court Verification and Notice
After receiving the petition, the court examines it and may issue notice to other legal heirs and interested persons. The notice may also be published in a newspaper so that anyone having an objection can approach the court.
4. Hearing and Evidence
The court considers the evidence and documents presented by the applicant. If no valid objection is raised, and the court is satisfied about the applicant’s entitlement, it may allow the application.
5. Court Fee For Succession Certificate
The applicant is required to pay the prescribed court fee. The amount varies according to the value of the debts and securities and the applicable state law.
6. Grant of the Certificate
After completing the required formalities, the court issues the succession certificate. The certificate specifies the debts and securities covered by it and identifies the person authorized to receive them.
Use of the Certificate
The holder can present the certificate to banks, financial institutions, companies, or other concerned authorities to recover the debts or securities of the deceased. The certificate provides protection to persons who make payment to the certificate holder in good faith.
Conclusion
A succession certificate is an important legal instrument for administering the movable assets of a deceased person, particularly where there is no will or where financial institutions require proof of authority. The process involves filing a petition before the competent court, providing details and supporting documents, giving notice to interested persons, paying the prescribed court fee, and obtaining the court’s order. Once issued, the certificate enables the lawful holder to collect the specified debts and securities of the deceased.
