Claiming Shares without Nominee

767 votes

Dear Sir, You have to file a petition under Section 372 of Indian Succession Act and get succession certificate as follows: ------------------------------------------------------------- It is required to establish the authenticity of the heirs. Also to authorize them to get assets or securities transferred in their names. Not to forget that assets comes with liabilities as such it also enables inheritance ofdebts. This is issued on the application from the beneficiary, to court as per laws of inheritance. It is necessary, though may not be always sufficient, to release or transfer the assets. For these letter of administration, no-objection certificates and death certificate is also required.

Advocate Kishan Dutt Kalaskar LawRato

944 votes

Your Questions Answered 1. Are Succession Certificate and Legal Heir Certificate the same? No, they are not the same. A *Succession Certificate* is issued by a court under the Indian Succession Act, 1925, and authorizes the legal heirs to inherit debts, securities, and other movable assets of the deceased. On the other hand, a *Legal Heir Certificate* is typically issued by the Tahsildar of the district and is used to establish the relationship between the deceased and their legal heirs. While both documents are used for inheritance purposes, they serve different purposes and are issued by different authorities ¹. 2. What is the exact court fee for Succession Certificate in Karnataka? The court fee for a Succession Certificate in Karnataka is typically 3% of the total value of the property of the deceased. This fee is payable when the court grants the Succession Certificate ². 3. Is there a maximum limit for court fees? There isn't a specific maximum limit mentioned for court fees in Karnataka for Succession Certificates. However, the fee is directly tied to the value of the deceased's property, which in your case is the value of the shares above ₹15 lakhs. Additional Information - *Legal Heir Certificate Fees*: The fee for a Legal Heir Certificate is nominal, typically around ₹15. - *Court Procedure*: To obtain a Succession Certificate, you'll need to file a petition with the district court, which may involve a court hearing and publication of a notice to invite objections. - *Documentation*: You'll need to provide documents such as the death certificate, proof of relationship, and a list of the deceased's assets ³ ⁴.

Advocate Narasimhachar M K LawRato