A succession certificate is a legal document required to claim debts and securities of a deceased person. It ensures rightful distribution under law.
What Is a Succession Certificate?
Issued by a civil court, it authorizes legal heirs to collect debts, bank balances, and securities.
When Is Succession Certificate Required?
It is required for:
- Bank deposits
- Fixed deposits
- Shares and mutual funds
- Insurance claims
It is not required for immovable property.
Who Can Apply?
Legal heirs such as:
- Spouse
- Children
- Parents
Any heir may apply, subject to court approval.
Legal Procedure to Obtain Succession Certificate
Steps include:
- Filing petition before civil court
- Submission of documents
- Court notice to heirs
- Objection period
- Certificate issuance
Court fees depend on asset value.
Documents Required
Key documents include:
- Death certificate
- Legal heir details
- Asset proof
- Identity proof
Accurate disclosure is mandatory.
Time Required
The process may take:
- 3–6 months if uncontested
- Longer if objections arise
Court workload affects timelines.
Online Legal Guidance
Online legal advisors assist with petition drafting, court filing, and compliance guidance.
Conclusion
Succession certificates ensure lawful asset transfer. Timely application avoids delays and legal disputes.