Updated on May 06, 2025 02:36:56 PM
Transferring the bank accounts and investments of a deceased person can be a complex task in Bihar especially when the deceased has not left any will behind. However, in such cases, a Succession Certificate in Bihar becomes necessary. This is a document given by the court giving those heirs the authority to deal with and inherit their deceased member's properties. It provides for an undisturbed transfer of ownership and avoiding disputes and it protects the interests of all its participants.
In this article, we will lead you through the process of getting a Succession Certificate in Bihar along with eligibility criteria and supporting documents. To experience hassle-free service have Professional Utilities contact you for help.
A Succession Certificate is issued by a competent court to establish the rights of legal heirs to manage or deal in various financial assets of a deceased person. It is extended to bank accounts, investments, and various securities throughout Bihar. This certificate becomes necessary in cases of inheritance for the handling or transfer of the property of the deceased and makes sure that the bank and other institutions will be able to transfer assets without any legal hassles.
The succession certificate is crucial to manage a deceased person's estate, and ensuring a smooth transfer of assets to legal inheritors. It makes inheritance procedures easier and offers a variety of benefits for the rightful beneficiaries..Here are five advantages of this document which make it a must-have document for legal heirs.
To apply for a Succession Certificate, follow these steps
To apply for a Succession Certificate in Bihar, you need to provide:
You need to understand the cost of getting a Succession Certificate to plan effectively.Cost of Obtaining the Certificate:
It is important to know how much time it takes to get a Succession Certificate.
Note: Professional fee for Succession Certificate in India starts from ₹25,000. The aforementioned fees are exclusive of GST
A Succession Certificate Petition Format should be prepared with care in accordance with legal rules so that it is accepted by the court. It typically includes details such as:
Many people confuse Succession Certificates with Legal Heir Certificates. When choosing between the two, it is essential to consider the type of asset and the purpose of the documentation.
| Aspect | Succession Certificate | Legal Heir Certificate |
|---|---|---|
| Purpose | Asset inheritance and management | Establishing legal heirs |
| Authority | Grants power to claim assets | No authority to claim |
| Use Case | Pensions, insurance | Debts, securities |
The certificate mainly applies to movable assets like bank deposits and securities. For Immovable Property, it may not always be necessary. Some states have specific rules that do not require a Succession Certificate for transferring immovable assets.
Succession Certificate Not Required for Immovable Property: In such cases, other legal documents may suffice for property transfer.
Conclusion
In short, the Succession Certificate in Bihar is one of the important supporting documents that act as lawful proof for the easy transfer of bank accounts and investments, among other things, left behind by a deceased person. Understanding the differences between a Legal Heir Certificate and a Succession Certificate will pave the way for an orderly and transparent process of inheritance. The right course of action prevents delays and thereby helps to avoid disputes over ensuring that it reaches only the rightful heirs.
If you want to avoid the complications of the procedure, then our legal experts at Professional Utilities will help you with it. We make an Application and issuance of a Succession Certificate in Bihar a very easy exercise without any hassle or complications for you. Our team will help you through it much easily and confidently.
At Professional Utilities, we leverage our industry knowledge and expertise to help businesses navigate complex regulations, minimize risks, and optimize operations for maximum efficiency and profitability.
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The Succession Certificate is the official court document that would enable the legal heirs to take over, or rather inherit, the estate of the deceased person consisting of bank balance and all kinds of investments and securities. This ensures smooth ownership transfer and also protects institutions, like banks, against potential legal disputes regarding the distribution of assets.
A certificate of succession will come into play when a movable property of a deceased person, debt, securities, or bank balances have to be transferred or dealt with, especially in instances when no will has been made.
For the issue of a Succession Certificate, one has to file a petition before the concerned District Court. The petitioning has to be done along with the essential documents such as the death certificate, proof of relationship, a list of legal heirs, and the details of the assets of the deceased. The court will conduct hearings, publish notifications, and issue the certificate after verification of all claims.
The fees to obtain a Succession Certificate generally include a court fee of approximately 3% of the value of assets being claimed, in addition to other charges levied over and above the filing and verification fees. Of course, it all depends on your state and how complex the case could be.
Legal Heir Certificate: It shows the legitimate heirs of a deceased person. It does not, in any case, confer rights to administer or dispose of properties. This is mainly issued for claiming pension or insurance.
Succession Certificate: It confers the right to inherit and make administration of moveable properties such as debts, and securities; it is also an essential document for banking or any other investment-related purposes.
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