A succession certificate is not mandatory; it is a statutory safeguard. Financial institutions require it when a person dies intestate or without a legal nominee.
FAQ Category: Succession Certificate
What does a succession certificate establish – ownership or inheritance rights over the deceased’s assets?
No. A succession certificate does not confer ownership or determine inheritance rights. It merely authorises the holder to collect specified debts and securities of the deceased.
Can a succession certificate be issued if the deceased has left a will?
Ordinarily, no. Where a valid will exists, and probate or letters of administration are required under law, a succession certificate cannot be granted.
Can more than one person jointly hold a succession certificate?
Yes. The court may grant a joint succession certificate to multiple applicants if it deems appropriate.
Can a succession certificate be challenged or revoked after it is granted?
Yes, a succession certificate may be revoked if it is found to have been obtained by fraud, misrepresentation, concealment of material facts, or if a subsequent valid will or superior legal claim comes to light.
Can a succession certificate resolve disputes between legal heirs regarding their respective shares?
No, a succession certificate is not an ownership proof. It does not adjudicate disputes relating to inheritance, title, or the quantum of shares among legal heirs.