Legal Question in Banking Law in India
My father expired on june2011,he had left un-nominated saving bank acc. fixed deposit. my bro an US citizen,and myself is indian. What is the procedure for recovering the money left by my father?
3 Answers from Attorneys
you need to produce with the bank the death certificate and the succession certificate. For succession certifcate, you need to apply to the court, where the properties of your deceased father are situated or where he normally resided. Also pl see "pecuniary jurisdiction" of the court depending on the value of the property.
Please note you have to apply to the court with the names of all other heirs of your late father as the respondents in the matter. Normally a newspaper notice is also issued apart from mandatory notice to the respondents. Upon the expiry of the time period (normally 1 and a half months) from the date of publication of the notice after the respondents have given their no objection, the court passes the orders for issuance of the Succession Certificate in your name, for which you have to then submit Judicial Stamp papers of sufficient amount (as per the prescribed court fees structure) in the court, whereafter the Certificate is typed by the court staff, duly signed and sealed and delivered.
It will roughly take about 3-4 months from date of filing to receive your certificate
Thanks
you need to file a suit for succession of the movable and immovable properties left by your father. what is the status of your brother who is in US. is he interested in claiming the share or willing to relinquish his share in your favour.
Is your mother alive ? Do you have any other sibling(s) besides your brother ? Is your Grand Mother alive (fathers mother ) ? Please clarify to get the answer for your questions .
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