The succession certificate is an important certificate provided to the successor of a deceased person who hasn’t prepared a will, for establishing their successor. It provides authority to the successor over the debts and securities of the deceased person and to transfer them to his own name. Now, let’s read about the succession certificate for immovable property.Is Succession Certificate Required for Immovable PropertyIf there is a Will, then a succession certificate may not be required as the assets will be distributed by an executor according to the Will. Even though the necessity for a succession certificate hasn’t been explicitly specified when a Will is there, various states in India, require both a succession certificate as well as probate in case you want to transfer any immovable property. For an immovable property such as land, you are also required to submit a letter of administration.For a movable property such as the loans, shares, bank deposits, and provident fund, the succession certificate is needed.In the case of provident funds and bank accounts, a nominee handles proceedings after the individual’s death but in case of dispute, a succession certificate is needed to release the assets. Moreover, if a huge amount is involved, the financial institution handling the claim may ask for a succession certificate.You might like these answers as well:When Succession Certificate is required?when Succession Certificate is not required?How to get succession certificate?What is intestate succession?
I hope you know the answer to the question 'Is succession certificate required for immovable property?' after reading Mr Aman's answer. Now that you know that a succession certificate is required for immovable property I would like to add a few points about succession certificates. For any legal assistance hire expert lawyers at NoBroker at an affordable budget.
What is a succession certificate?
The certificate which helps to identify the legal heir of the immovable property after the death of the owner is called a succession certificate. A legal heir can prove their claims by showing the succession certificate. You can also avail succession certificate for movable properties such as the provident fund, bank deposits, shares and loans. In the case of movable property such as provident fund or bank deposits, the nominee can handle the assets but if the succession certificate is produced then the assets have to be realised.As mentioned by Mr Aman succession certificate not required for immovable property if there is a Will which is registered. To obtain the succession certificate immovable property a petition has to be filed in the court. The District Judge grants the succession certificate after verifying all the details. You can obtain a legal heirship certificate as an alternative to a succession certificate. But you must know that the succession certificate helps to identify the authenticity of the legal heirs which in turn gives them the right to claim the inheritable properties.I felt like adding this information while I was answering your question 'is succession certificate required for immovable property' as I feel the information I have provided is important. I hope you like it.Read more:How To Get Succession Certificate?How To Get Legal Heir Certificate?
I needed a succession certificate back in 2015. Because the will for an immovable property was not registered. In India, however, obtaining a succession certificate requires following a certain protocol. But let’s first know is succession certificate required for immovable property.Draft encumbrance certificate right here with the help of NoBroker.
What is a Succession Certificate immovable property?
The document authorises an heir to collect on the deceased's liabilities. Heirs are expected to justify their position in the case of a will. A succession certificate is necessary for movable property such as provident funds, bank accounts, shares, and loans. A letter of administration should be provided for an immovable item such as land.As mentioned in previous answers by Aman and Ana, a succession certificate is not required for an immovable property if the will is already registered. A nominee oversees bank accounts and provident funds following the individual's death, but in the event of a disagreement, a succession certificate is allowed to disclose the property. A succession certificate may also be requested by the financial institution processing the claim if the sum involved is significant.
Succession Certificate Revocation:
Succession certificate can be cancelled if any of the following conditions are met:
The certificate was obtained by dishonest means.
Unexpected events occur which invalidate the certificate.
Other courts whose jurisdiction includes the deceased, reject the succession.
It has been declared null and void by the High Court.
While a Will specifies how the deceased's assets will be distributed, the absence of one can lead to a dispute among claimants.
As a result, a succession certificate is required to avoid uncertainty and to provide rights to the legally qualified heir.
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Is succession certificate required for immovable property?
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September 27, 2021
2021-09-27T11:37:22+00:00 2021-09-27T17:32:28+00:00Comment
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