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Inheritance & Succession

  • 5 years ago
  • Source: www.geniusocean.com
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Inheritance and succession mean transfer of immovable property, debt and other assets and liabilities upon death of a person to an individual mentioned in that persons will. The rules and laws regarding inheritance differ in among societies and cultures. In case there is a dies without a will then its successors will need a succession certificate to put a claim on his belongings as a legal heir. The succession certificate and related issues come under the Succession Act of 1925 of Pakistan and is acceptable nationwide. The Law of Succession 1925 exercise control over all procedures relating to the succession of property of the deceased.

  

Succession Certificate:

An inheritance or succession certificate establishes the authenticity of the successor. When a person dies without a will relating to the distribution of his moveable property, his successors have a right to apply for a succession certificate as a legal heir to his assets.

 

What is a succession certificate?

A succession certificate is a legally binding certificate issued by the Civil Court of Pakistan. The document is of crucial importance for the legal heirs as it transfers the moveable property like cash, jewellery and other assets to the legal heir of the deceased.

 

Duration

Normally a succession certificate takes up to 2 months. However, in cases there is conflict or opposition from a third party which complicates the case is involved it can lead to an increased time and can take up t o3 months.

 

Requirements for getting a succession certificate

For a succession certificate, you need to submit the following documents:

Death certificate of the deceased

Computerized National Identity Card (CNIC) of the legal Heir(s).

Details of the relationship with the deceased

Details of the moveable asset along with its evidence

 

Applying for a succession certificate

In the case of more than one heir, the succession certificate can be applied in two ways.

 

Individual Application

In individual applications, all legal heirs apply for the succession certificate individually, and the Court offers individual certification in the name of each legal heir.

 

Joint Application

In case of a joint application, all legal heirs apply for the succession certificate as group and name legal heir as their representative. In court, all legal heirs record their statements in the favor of issuance of succession certificate. The Court than issues the certificate to that legal heir and then the property or assets are distributed among other legal heirs with mutual consent.

 

Cancellation of succession certificate

Issuance of the succession certificate can be revoked:

If the procedure for obtaining the succession certificate is flawed

If the succession certificate is obtained through false suggestion or fraud

If the succession certificate is obtained through a false allegation of an essential fact even if it was made inadvertently.