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A succession certificate is given to successor of deceased person in case there is no will prepared. It is used to establish the authenticity of the successor. This certificate authorizes the holder over the deceased person’s debt securities and property. In case of if there is any debt over the deceased person that has to be is cleared by the certificate holder. The succession certificate does not make it holder the owner of the properties of deceased the movable and immovable properties are owned by legal heir which is decided by different method.
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• Succession certificate is used to provide the protection to the parties who are paying the debts of the deceased person.
• The holder of the succession certificate is eligible to receive the interest or dividends of the securities.
• The holder can use the securities as per their need to negotiate or transfer such securities as per the guideline mentioned in the certificate.
• All the payments that are made by the holder will be legally valid.
• In case of citizen of India- the succession certificate is valid everywhere in the country
• In case of Foreign National – The succession certificate is granted by government appointed Indian representative in that particular nation and the certificate should be properly stamped as per Court Fees Act 1870.
i. Death certificate
ii. Pan Card of all the legal heirs.
iii. Address Proof of all the legal heirs.
iv. Prescribed application form by affixing a court fee stamp.
