We working as a succession lawyer in kolhapur as per following Succession means : ''The law and procedures under which beneficiaries become entitled to property under a testator's will or on intestacy.'' A certificate granted by a competent court to collect the debts and securities of the deceased, as also to receive interests or dividends on and to negotiate or transfer securities.
A document through which the disposition of deceased’s property is made is called succession certificate. This certificate is given under section 370-390 of the succession act. The detail is provided below. The Indian Succession Act, 1925 defines a succession certificate as a certificate issued by a court to the legal heirs of a deceased to establish the authenticity of the heirs and give them the authority to inherit debts, securities and other assets of the deceased.
We working as a succession lawyer in kolhapur as per following The purpose of a succession certificate is limited in respect of debts and securities such as provident fund, insurance, deposits in banks, shares, or any other security of the central government or the state government to which the deceased was entitled. Its main objective is to facilitate collection of debts on succession and afford protection to the parties paying debts to the representatives of the deceased person.
A succession certificate may be used in situations where banks, financial and private institutions release funds to the nominee (where such nominee is not the legal beneficiary of the asset) and the nominee refuses to cooperate in distribution of the asset to the legal beneficiary.
A succession certificate, strictly speaking, does not effect adjudication of title of the deceased far less than that of the holder as regards the debts and securities covered thereunder. Yet, simply to afford protection to the parties paying the debts. The grant of succession certificate is conclusive against the debtor.
A succession certificate is effect throughout the whole India as per section 380 of The Indian Succession Act,1925 (herein after referred as the Act). According to sections 381 and 386 of the Act, a succession certificate is conclusive as against the person/persons liable to whom full indemnity is afforded (make available) for payments made.
But, despite the succession certificate is only conclusive of the representative title of the holder thereof as against the debtors, a suit of declaration will not lie that the holder of the certificate is not the legal representative of the deceased. Similarly, a succession certificate may be useful to prove genuineness of the claimant where the inheritance amount is substantial. Additionally, in certain states, a probate (meaning a copy of the will, if it exists, authenticated by the Court) and a succession certificate are compulsory to transfer the title of an immovable property. Who can apply Succession Certificate?
We working as a succession lawyer in kolhapur as per Following are the person who can apply for succession certificate:
(i) Sound mind person (ii) Major person (iii) Person having an interest in estate of deceased (iv) Secretary of state (v) Person having beneficial interest in the debt or security of deceased person.
We love our customers, so feel free to visit during normal business hours.
Behind Dhanraj collection, Opp nandini Dresses, Ch.Shivaji Chowk, Kolhapur
Mon | 10:30 am – 06:30 pm | |
Tue | 10:30 am – 06:30 pm | |
Wed | 10:30 am – 06:30 pm | |
Thu | 10:30 am – 06:30 pm | |
Fri | 10:30 am – 06:30 pm | |
Sat | 10:30 am – 06:30 pm | |
Sun | Closed |
advpalsule.in
Dhanraj collection, near Shivaji Chowk, C Ward, Kolhapur, Maharashtra, India
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