Answer By law4u team
The law that governs succession certificates in India is the Indian Succession Act, 1925, specifically under Part X (Sections 370 to 390) of the Act. This law applies to all individuals in India, except for Muslims (whose succession is governed separately by personal laws). The succession certificate is issued by a District Court to authorize the legal heir(s) to collect debts and securities of the deceased person who died intestate (without a will). Key points under the Indian Succession Act, 1925: Section 372 provides the procedure for applying for a succession certificate. Section 373 lays down the format of the application, including details like the deceased’s name, date of death, relationship of the applicant, and a list of debts and securities. Section 374 deals with the form and content of the certificate issued. Section 375 and 376 discuss the rights and limitations attached to the certificate. Section 377 provides for appeal if any party is aggrieved by the grant or refusal of the certificate. Once granted, the succession certificate gives the holder the authority to deal with movable assets such as bank accounts, insurance policies, shares, bonds, and other securities.
