My mother passed away a year ago. I was able to claim the majority of her assets (some FDs, some mutual funds, and DEMAT), since I was listed as nominee. However there are a few mutual funds on which no nominee was listed, and same is the case with one bank account. The mutual fund company has told me I need to get either a succession certificate or a letter of administration. (they are ok with either). My question is which one should I go for? My mother did not create a will. Since there is no will, would a letter of administration be applicable, or is succession certificate the only option? I have tried going through the Indian Succession Act 1925, but I am not able to find clarification on whether one should do letter of administration or succession certificate if no will is present. The religion is Hindu. Her heirs are me and my father (I am the only child), and my father is ok with me claiming the proceeds, and is willing to provide no objection letter if required. My mother did not own any property. So, on what criteria should I decide whether to go for succession certificate or letter of administration. And do both take an equally long time?
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You have to apply for succession certificate for claiming movable debts and securities. In your case since mother had mutual funds investment SC would be necessary
2) if your mother had left behind immovable property then letters of administration would ha e been necessary
3) it should not take more than 6 months
Sir you have to obtain a succession certificate from.the court as the assets are movable in nature.
The procedure in Indian succession has to be followed:
372 Application for certificate. —
(1) Application for such a certificate shall be made to the District Judge by a petition signed and verified by or on behalf of the applicant in the manner prescribed by the Code of Civil Procedure, 1908 (5 of 1908) for the signing and verification of a plaint by or on behalf of a plaintiff, and setting forth the following particulars, namely:—
(a) the time of the death of the deceased;
(b) the ordinary residence of the deceased at the time of his death and, if such residence was not within the local limits of the jurisdiction of the Judge to whom the application is made, then the property of the deceased within those limits;
(c) the family or other near relatives of the deceased and their respective residences;
(d) the right in which the petitioner claims;
(e) the absence of any impediment under section 370 or under any other provision of this Act or any other enactment, to the grant of the certificate or to the validity thereof if it were granted; and
(f) the debts and securities in respect of which the certificate is applied for.
(2) If the petition contains any averment which the person verifying it knows or believes to be false, or does not believe to be true, that person shall be deemed to have committed an offence under section 198 of the Indian Penal Code, 1860 (45 of 1860).
56 [(3) Application for such a certificate may be made in respect of any debt or debts due to the deceased creditor or in respect of portions thereof.]
Hello Ajay, I will take your advice and go for a succession certificate. However, purely out of curiosity, can you tell me if a letter of administration would be applicable in a situation where there is no will? (Mutual fund institutions seem to accept either options so I'd like to understand what is actually the difference between the two, aside from property only being applicable to LoA). As for the succession certificate, are there templates one can use for this application, or does one normally need to hire a lawyer to manage the application? Any idea what such legal services would generally cost in Mumbai?
You need to engage a lawyer for filing SC
2) there is no template to be used
3) legal fees vary depending upon the Lawyer engaged by you
4) LA would be required if deceased died intestate and left behind both movable and immovable property
LOA IS OBTAINED IN FOLLOWING CASES HOWEVER THE FINANCIAL INSTITUTION IS ACCEPTING SAME TO ACESTRAIN LEGAL HEIRS :
Testator has failed to appoint an executor under a Will OR
Where the executor appointed under a Will refuses to act OR
Where executor has died before or after proving the Will but before administration of the estate.
A Letter of Administration can be granted after 14 clear days from the date of death of an intestate.
Firslty, Sir, I would advice you to go for the Succession Certificate.
Secondly, whenever we are claiming any right over any property after the person who is the owner has passed away.
Thirdly, we should have the Succession Certificate to say that we are the actual legal heir of the deceased.
Fourthly, LOA May be accepted by some department but not with everyone.
Fifthly, you both would have to apply for the Succession Certificate before the Cuvil Court of law.
Sixthly, thereafter if your father want can give NOC to you for getting all the remaining property.
If you are mother has left Behind immovable property you would have to apply for letter of Administration.
In case of movable property, succession certificate is required from Civil Court.
The procedure for both is the same and the time taken is also more or less equal.
You will have to take the services for lawyer in order to apply for a succession certificate in Civil Court for which you will have to hire some local advocate practicing in courts of Mumbai.
1. You require Succession Certificate from the court of competent jurisdiction, not letters of administration.
2. Engage a lawyer and file a petition for grant of Succession Certificate in the competent court. It is serious court work which a layman will not be able to take to a logical conclusion. Do not go by online templates as they are more often than not misleading.
No, a letter of administration—which can only be obtained from a Court—is only issued in case of a will. It is issued where there is a will but no executor (also in cases where the executor refuses to discharge his/her responsibility).
An application for the grant of a sucession certificate must contain the following particulars:
1. Time of death of the deceased;
2. Details of properties of the deceased at the time of death;
3. Names of other family members/near relatives;
4. The rights of the petitioner;
5. Averment as to the absence of any impediment to the grant of certificate;
Here is a model application: https://www.legalcrystal.com/forms/download/3987
succession certificate is only for movable properties
letters of administration is for both moveable as well as immovable properties
so it is better you take a LA because with that you can administer the entire estate of your mother wherever it is situated
if there is an immovable property involved, then based on the market value of that property, court fees will have to be paid. Maximum court fees is 75k. For immoveable properties generally that much court fees will have to be paid. because the value of the property is very high
Dear Client,
Letter of administration is granted for whole estate (all the money and property owned by a particular person) of deceased died intestate.
Whereas Succession certificate issued with regards to debts and securities.
Both will be granted by court. Have t0 hire lawyer.
If issue is limited to mutual funds , go for SC.
Since these are movable property you need to get a succession certificate from court of law.
Letter of administration will not be required under this situation.
Both have to be obtained from court only and both may take more or less the same time..
Letter of administration would be applicable for Will also and also for the immovable property.
Where as for movable properties succession certificate would be the best option.
Both have to be obtained through court only.
There are no templates for either.
This is another regular case in the court of law.
The advocate fee and court fee may be enquired locally.
LOA is not applicable as there is no will. LOA is issued by the court on application.
In your case an SC is enough.
