Why is a Succession Certificate needed?

Why is a succession certificate important

When a person dies without leaving a valid will, their death is referred to as "intestate." Without having to identify the legal heir entitled to the certificate, the holder of a succession certificate can transfer securities or pay off debt to the certificate holder. Any payments made to or transactions that were conducted in good faith with a person to whom a certificate was granted are covered by the indemnification provided by a succession certificate to all parties owing such debts or liable on such securities. Consequently, numerous organizations and individuals request a succession certificate before settling the deceased's debts or securities in favour of the claimant.

Procedure for Obtaining Succession Certificate

To obtain succession certificate, a petition to the District Judge within whose jurisdiction the deceased person ordinarily resided at the time of his or her death or, if at that time he or she had no fixed place of residence, the District Judge within whose jurisdiction any part of the property of the deceased may be found.

 Petition for Certificate

A petition for succession certificate must contain the following particulars:

·  Time of death of the deceased

·  Residence or details of properties of the deceased at the time of death within which Judge the jurisdiction falls under

·  Details of family or other near relatives

·  The rights of the petitioner

·  Absence of any impediment 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 petition, can grant an opportunity of hearing to persons who, in his/her opinion, should be heard. After hearing all parties, the Judge can decide the right of the petitioner to be granted the succession certificate. The Judge would then pass an order for grant of certificate specifying the debts and securities set forth in the application empowering the person to receive interest or dividend or to negotiate or transfer or do both.

Restriction on Succession Certificate

A court can sometime require a bond with one or more surety or sureties or any other security for rendering an account of debts and securities received by the petitioner of succession certificate for indemnifying the persons who may be entitled to any part of the debt or securities.

Validity of Succession Certificate

A succession certificate has validity throughout India. If a certificate is granted in a foreign country by an Indian representation accredited to that State, it should be stamped in accordance with the Court Fees Act 1870 to have the same effect in India as a certificate granted in India.

Succession Certificate (SC) is required when somebody inherits any immovable or movable property under the various relevant Laws in the country. Most of these issues are covered under the Hindu Succession Act. However, the minorities are covered by their community acts or the Indian Succession Act. This issue needs to be understood in the right perspective for both categories.

Revocation of the Succession Certificate

As per Section 383 of the said Act, a certificate so issued may be revoked for any of the following causes: - Process for obtaining the certificate was defective. Certificate was obtained fraudulently. Certificate becomes useless and inoperative due to circumstances. Decree or order of other competent court in dealing with the debts and securities of the same deceased person, renders it proper that the certificate is revoked. Against an order of the District judge, in the matter of grant, refusal or revocation of certificate, a person may appeal to the appropriate High Court.

Conclusion

Succession Certificate is a document which is issued by the court for claiming movable properties by the successors of the deceased. It is significant, and proper advice should be sought while making and implementing these. The succession certificate affirms who the legal heirs of the deceased are and that there was no will. This may be enough for the legal heirs to administer and dispose of property, but isn t the most pertinent document in case of properties. For this, it is possible that a letter of administration is necessary. A letter of administration is a document that explicitly grants a person the authority to administer the property of a person who has died intestate. This procedure to get this document is the same as the procedure for getting the succession certificate

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