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Archives: FAQs
To claim a deceased person’s bank account or fixed deposits, is a succession certificate mandatory?
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.
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.
Who is eligible to apply for a succession certificate?
Any legal heir of the deceased may apply for a succession certificate. The court grants the certificate to the person who appears to have the best prima facie claim.
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.
Does a succession certificate have nationwide validity?
Yes, a succession certificate is valid throughout India.
What types of assets can be claimed through a succession certificate?
A succession certificate is applicable to the deceased’s bank balances, fixed deposits, shares, debentures, provident fund dues, insurance claims, and other financial receivables. It does not applicable to immovable property.
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.