Answer By law4u team
Generally, a succession certificate is not required if there is a valid registered nominee — but it depends on the situation. Key points • For banks, insurance, PF, mutual funds, etc. – The nominee can claim the money by producing the death certificate and identity/address proof. Most institutions release the amount to the nominee without asking for a succession certificate. • Nominee ≠ owner – A nominee is only a trustee or caretaker of the funds for the legal heirs, unless a specific law (like in Cooperative Societies Acts in some states) gives ownership rights. Legal heirs can still claim their share from the nominee. • When a succession certificate may still be needed – – If there is a dispute between nominee and legal heirs. – If the institution’s internal rules require it for higher-value claims. – If there is no clarity in the records about the nominee or the nomination is invalid. So, if there is a valid, uncontested nominee, the process is simpler and a succession certificate is usually not necessary. If disputes arise, the court-issued certificate becomes important.
