When a person dies leaving security (i.e. Government promissory note, debenture, shares, Bank Account etc) or debt recoverable from his debtors, it become necessary for his legal representative to take out a succession certificate from the proper court to enable him to realize interest or to recover the debt. The debtor may refuse to pay the debt unless the right to recover it is shown. The object is to facilitate collection of debts and not to enable parties to litigate questions of dispute title. If the representative of the deceased person beings a suit against the debtor, no decree will be passed unless a succession certificate is produced.
What Law Involve and in which court is filed?
Under section 372 a petition is filed before the concern court having jurisdiction along with the all documents and such application is must be made by the petition signed and verified by or on behalf of the applicant in the manner prescribed by the CPC and set forth the following particular.
The petition is either filed before the District Judge or before the High Court as the case may be as per pecuniary jurisdiction. The application is to be presented to the court within the jurisdiction of which the decreased ordinarily resided at the time of death or if a t that time he had no fixed place of residence, the court then within whose jurisdiction of which any par to of his property may be found.
Certificate when invalid?
A certificate granted shall be invalid if there has been a previous grant of such a certificate or of probate or letter of administration which is I force. A subsequent grant of probate or letter of administration supersedes the certificate previously granted.
Revocation of certificate
A certificate may be revoked for any of the following causes;
(a) Defective proceedings
(b) Fraud, false suggestion, concealment of material facts
(c) Untrue allegation of essential fact through made in ignorance or inadvertently
(d) Certificate becoming useless and inoperative
(e) Decree or order of Court rendering revocation proper