What is a Succession Certificate?
A civil court judge of the relevant jurisdiction can grant a Succession Certificate to the legal heirs of an individual dying intestate, leaving behind unclaimed securities and debts. A person is deemed to have died intestate when he/she has not made a legal will. A Succession Certificate empowers the certificate holder to inherit the securities and debts of the deceased and to negotiate and/or transfer them.
The Certificate gives indemnity to all individuals having such debts or having liabilities on such securities, in regards to the payments made to or dealings made in good faith with the certificate holder. Hence, many people and organisations look for a Succession Certificate while settling the securities/debts of the deceased. The certificate should be in favour of the individual claiming such securities/debts.
Benefits of A Succession Certificate
- In the absence of nomination or will, the heir to a piece of property or financial assets is required to prove his/her claims to them. In such cases, depending on the asset, an heir might be asked to produce either a Succession Certificate or a letter of administration.
- For a movable property like the provident fund, bank deposits, shares, loans, or other securities, a Succession Certificate is required.
- For an immovable property like land or jewellery, one has to produce a letter of administration in support of his or her claim.
Documents required for Succession Certificate
In India,Succession Certificate cannot be done without proper identity proof and address proof. Identity and address proof will be needed for all the directors and the shareholders of the company to be incorporated. Listed below are the documents that are accepted by MCA for the online company registration process acceptable.
Identity And Address Proof
- Scanned copy of PAN Card or Passport (Foreign Nationals & NRIs)
- Scanned copy of Voter’s ID/Passport/Driver’s License
- Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill.
- Scanned passport-sized photograph specimen signature (blank document with signature [directors only])
For the foreign nationals, an apostilled or notarized copy of the passport has to be submitted mandatorily. All documents submitted should be valid. The residence proof documents like the bank statement or the electricity bill must be less than 2 months old.
Registered Office Proof
For online company registration in India, the company must have a registered office in India. To prove admittance to the registered office, a recent copy of an electricity bill or the property tax receipt or water bill must be submitted. Along with the rental agreement, utility bill or the sale deed and a letter from the landlord with her/his consent to use the office as a registered office of the company should be submitted.
- Scanned copy of the latest bank statement/telephone or mobile bill/electricity or gas bill
- Scanned copy of Notarized rental agreement in English
- Scanned copy of No-objection certificate from the property owner
- Scanned copy of sale deed/property deed in English (in case of owned property)
E-Form spice 32
It is an incorporation e-form provided at the final stage of in corporation of a company. Here, all the mandatory details should be filled in this form and submitted along with the required documents.
How Big Vakil Helps In Procuring A Succession Certificate
Creation Of Application
We will connect you with experienced lawyers, who will prepare the application for a Succession Certificate after collecting all the required documents.
Filing Of Application
If the district judge is satisfied with the preparation of the petition, an opportunity will be granted to hear the person who, in his/her opinion, should be heard. After hearing from all parties, the judge will decide the right of the petitioner, to be granted the Succession Certificate. The judge would then pass an order to grant the certificate
