Succession Certificate

suk-SESH-un ser-TIF-uh-kit

A court certificate under the Indian Succession Act, 1925 authorising the holder to collect the debts and securities of a deceased person who died intestate.

~4 min read 28 views high confidence

Definition

Debt Recovery Certificate Certificate of Succession

A court certificate under the Indian Succession Act, 1925 authorising the holder to collect the debts and securities of a deceased person who died intestate.

A succession certificate is granted by a District Court under the Indian Succession Act, 1925 (Sections 370-390) to the legal heirs of a person who dies intestate (without a will), enabling them to collect the deceased's debts, dividends, and securities. It provides the holder authority to negotiate, transfer, or release securities in the deceased's name. It is distinct from a probate (which validates a will) and letters of administration (which appoint an administrator for the whole estate). Debtors and banks are protected if they pay based on a valid succession certificate.

Statutory Definition

Section 370, Indian Succession Act, 1925: 'When any person dies intestate and any debt or security is vested in him at his death, a District Judge within whose jurisdiction the deceased ordinarily resided may grant to any such person, as in the discretion of such District Judge appears fit, a certificate under this Part.'

Etymology & Origin

From Latin 'successio' (following after, succession) + 'certificare' (to certify). The certificate formally recognises who succeeds to the right to collect the deceased's dues.

Full Legal Analysis

This Term in Indian Statutes

ISA 370
neutral

Indian Succession Act, 1925, 1925

"When any person dies intestate and any debt or security is vested in him at his death, a District Judge may grant to any such person as appears fit a certificate authorising him to receive interest or dividends on, or to negotiate or transfer, the securities, or to receive the debts."

Grants authority to collect deceased's debts and securities for intestate estates

ISA 381
neutral

Indian Succession Act, 1925, 1925

"Payment made or acts done in good faith to or by the holder of a certificate under this part shall be deemed to have been made or done by or to a person legally entitled to receive payment or to do the act."

Protects debtors and banks paying in good faith to certificate holder

Other Legislation

Indian Succession Act, 1925 370-390

Visitor No. 487173