• Succession certificate

For getting succession certificate from the court, is the face value is taken or the market value is taken. 

And is there is a exemption limit of Rs five lakhs of the value of the shares, where in legal heir certificate issued by the local authority will saffice.
Asked 1 year ago in Business Law

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14 Answers

For issue of succession certificate market value of assets is considered and not face value 

 

2) advisable to obtain succession certificate 

 

3) legal heirship certificate establishes the relationship of the heirs to the deceased for claims relating to pension, provident fund, gratuity or other service benefits of central and state government departments, specifically when the deceased has not selected a nominee

Ajay Sethi
Advocate, Mumbai
76937 Answers
4620 Consultations

5.0 on 5.0

succession certificate court fee is on value of movable property  or amount or debt or security.

Further succession certificate is only.for movable assets for debt or security not for land and property.

Further if in the application for succession certificate you specify the shares also then fee is payable.otherwise not.

Shubham Jhajharia
Advocate, Ahmedabad
25194 Answers
105 Consultations

5.0 on 5.0

(1) On market value not on the face value. 

(2) Legal heir certificate is an important document that helps identify the heirs or surviving family members of a deceased person. Legal heir certificate can be used to claim the assets and other resources of a deceased person

Mohammed Mujeeb
Advocate, Hyderabad
17326 Answers
11 Consultations

4.5 on 5.0

what shares are you referring to?

are the shares of a residential housing society or a company?

 

Yusuf Rampurawala
Advocate, Mumbai
5344 Answers
34 Consultations

5.0 on 5.0

Market value is to be taken for issuing the succession certificate.

No exemption limit is there.

Koshal Kumar Vatsa
Advocate, Gurgaon
2066 Answers
1 Consultation

5.0 on 5.0

Dear Sir,

The following information may kindly be read.

A succession certificate is issued by a civil court to the legal heirs of a deceased person. If a person dies without leaving a will, a succession certificate can be granted by the court to realise the debts and securities of the deceased. It establishes the authenticity of the heirs and gives them the authority to have securities and other assets transferred in their names as well as inherit debts. It is issued as per the applicable laws of inheritance on an application made by a beneficiary to  a court of competent jurisdiction. A succession certificate is necessary, but not always sufficient, to release the assets of the deceased. For these, a death certificate, letter of administration and no-objection certificates will be needed. 

Application: A petition needs to be filed with the district court or high court within whose jurisdiction the asset is located. 

Details: The name and relationship of the petitioner, names of all heirs of the deceased, details about the time, date and place of death should be mentioned in the application. A copy of the death certificate has to be produced. 

Process: The court typically issues a notice in the newspapers for a given period (generally 45 days). If no one contests the petition on the expiry of this period, the court passes an order for issuance of succession certificate. 

Fees: The court levies a fixed percentage of the value of the estate as fee for issuance of the certificate. 

Points to note 

The court fee has to be paid in the form of judicial stamp papers of the required amount, after which the certificate is typed, duly signed and delivered. 


In addition to the court fee, the lawyer’s fee also needs to be taken into account. 

If the petition is not contested, the court usually issues a succession certificate in five to seven months. 


Netravathi Kalaskar
Advocate, Bengaluru
4953 Answers
26 Consultations

4.8 on 5.0

1. The value mentioned in the petition applying for succession certificate is taken care of.

2. Court fees varies in every state and hence it is advisable to speak with local lawyers on this issue.

Devajyoti Barman
Advocate, Kolkata
20769 Answers
296 Consultations

5.0 on 5.0

Dear Client,

SC will bear court fees, market value of share, First try through LHC and if any nominee than shares will deliver to nominee than will distribute between heirs.

Yogendra Singh Rajawat
Advocate, Jaipur
20102 Answers
28 Consultations

4.5 on 5.0

The court fees would be charged on the face value of the shares, which added up to Rs250. The value of the shares being less than Rs1,000, the issue of succession certificate attracted zero court fees.

Ganesh Kadam
Advocate, Pune
10682 Answers
94 Consultations

4.9 on 5.0

 

1. The face value described by the TN govt will have to be considered.

2. Succession certificate will have to be obtained.

Niranjan
Advocate, Bangalore
844 Answers
9 Consultations

4.9 on 5.0

Succession certificate is not required for the transaction in immovable property.

Succession certificate is required for the movable assets only that too if the indemnity bond will not be sufficient.

T Kalaiselvan
Advocate, Vellore
66936 Answers
884 Consultations

5.0 on 5.0

For succession certificate, court fee has to be paid only on the current market value of shares. If the value is less than Rs.5 lakh, legal heirs certificate should suffice.

Swaminathan Neelakantan
Advocate, Coimbatore
704 Answers
7 Consultations

4.9 on 5.0

Hello,

Market value will be considered. 

Kindly consult a local advocate to take advise on the exemption. 

Regards  

Anilesh Tewari
Advocate, New Delhi
17790 Answers
296 Consultations

5.0 on 5.0

Any transfer of immovable property succession certificate is required. Other petty things can be managed through legal heir certificate

Prashant Nayak
Advocate, Mumbai
20562 Answers
38 Consultations

4.4 on 5.0

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