What is the procedure and cost to transfer shares in my friends name
27-Jun-2023 (In Civil Law)
my friend is 82 yr old. his wife expired in 2008/2009 without any nomination or will. There is no one alive in her family. recently while clearing her belongings he found some shares on her name only. How can it be transferred on my friends name. He does not have marriage certificate. he has ration card with his and is wife name , wife's passport and her death certificate. most of his documents have been destroyed in 26 july rainfall. what is the procedure and cost to transfer her shares in my friends name?
If his wife has not made any nomination with respect to said shares in that case your friend has to obtain a succession certificate from concern civil court by filing of case...by which he can produce said succession certificate to concern bank or office for transfer.
Your friend should apply for Succession Certificate under the Indian Succession Act. The cost for the same would be 50,000 INR for applying for succession ceetificate and court fees and other miscellaneous costs will depend on the valuation of the shares.
As per your query,
Your friend needs to file an application in the court for obtaining the Succession Certificate and attach all documents along with the Application. Upon obtaining the orders and payment of court fees your friend can get the name transferred in the share certificate.
Regards
Your friend needs to file an application in the court for obtaining the Succession Certificate and attach all documents along with the Application. Upon obtaining the orders and payment of court fees your friend can get the name transferred in the share certificate.
Regards
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