In India, an NRI succession certificate is an official legal document provided by the Indian courts to NRIs, where the latter are the legitimate heirs of a person who has died intestate with his unpaid debts and securities
Succession Certificates of India are significant to safeguard the interest of both the parties and organizations dealing in any transactions related to the debts and securities of the deceased. These certificates safeguard all the parties with an assurance that any payment made or transactions entered into in good faith with the holder of such certificate would be treated as valid and legally binding. It has also been common practice for persons and entities to request the issuance of NRI Succession Certificates given the legal security and assurance thereof before allowing the finalization of the resolution of the deceased person's debts and securities in Favor of the party making such claims.
In India two major legislations govern the subject of NRI inheritance:
- The Indian Succession Act: This act lays down a uniform and complete system including succession and inheritance. Succession Laws in India are diverse and they depend upon personal laws and the nature of the Assets, therefore to deal with such complexities a uniform law namely the Indian Succession Act, of 1925 was incorporated in India. The law of succession in India lays down principles relating to how the property of a deceased person is to be distributed.
- The Hindu Succession Act: This act would come into operation regarding succession where a Hindu, Sikh, Jain, and Buddhist dies intestate or without a will. It describes the way a particular property would be shared among different classes of heirs, considering sons and daughters as equals.
Requirement of Succession Certificate by NRIs
- The Succession Certificate for NRIs would be primarily required for the following purposes: Access and management of bank accounts and investments in India that were held by the deceased.
- The transfer of property titles or assets that have been under the name of the deceased would necessitate this certification.
- Settlement for outstanding debts and securities would need this.
- Legal Authorization: This will serve as legal authority in courts and financial institutions where the NRI can be proclaimed to have a right to the deceased's assets.
How to Get a Succession Certificate in India:
The petition for obtaining a succession certificate along with the succession certificate documents required is to be filed in the court of competent jurisdiction. In the petition, the following details- name of petitioner, name of legal heirs of deceased, residence of relatives and family of the deceased, details of death, debts, and securities for which a succession certificate has to be obtained are to be mentioned.
After the succession certificate procedure is initiated, the court will issue a notice for 45 days in a newspaper; if any person has an objection, he can file it in court. But if the court does not receive any objection, it shall issue the Succession certificate. It usually takes 5 to 7 months, as per the Succession Law.
Whenever an NRI is willing to inherit a property in India upon getting to know that some property belongs to him and the owner has died intestate, then the NRI has to follow the same procedure as the resident of India.
Documents Required For Succession Certificate in India
The petition along with the succession certificate documents required should be filed in the court with competent jurisdiction. In the petition details such as:
Name of the petitioner,
Name of legal heirs of deceased,
Residence of relatives and family of deceased,
Details of death
Debts and securities for which a succession certificate has to be obtained should be also be mentioned.
Validity of Succession Certificate in India
This certificate is valid throughout India. In the case when a person leaves behind a will, the requirement of a succession certificate becomes unnecessary but if a person dies intestate or without a will then the requirement of a Succession Certificate becomes mandatory. This certificate becomes necessary when any movable or immovable property is inherited by a person under different property laws in India, and if such a certificate is issued within a foreign country by a representative of India, then such a certificate can be said to be valid only when it is stamped in accordance with the Court Fees Act, 1870. A Succession Certificate may be revoked if such was obtained fraudulently, if there was some defect in the procedure for obtaining such a certificate.
At YKG Global, we assist NRIs in obtaining a Succession Certificate in India to secure rightful inheritance and manage the assets of a deceased relative.
Our Services Include:
- Petition Filing and Court Representation
- Document Preparation and Submission
- Legal Procedures and Court Notices
- Inheritance Laws Expertise
- Representation in Case of Objections
- Validity and Cross-Border Certification
- Hassle-Free Property Transfer
YKG Global ensures a comprehensive, hassle-free solution for NRIs who need assistance with succession certificates, providing legal security and peace of mind in the inheritance process.
