Succession Certificate NRI
SuccessuNRI without visiting India, is it possible?
Overview of Succession Certificate NRI
A Succession certificate NRI is issued by a civil court to the legal heirs of a deceased person. If a person dies without leaving a will, a succession certificate can be granted by the court to realise the debts and securities of the deceased. It establishes the authenticity of the heirs and gives them the authority to have securities and other assets transferred in their names as well as inherit debts.
At Law Advisor India, we’ve figured out the least tiresome and most cost effective procedure of Succession Certificate for NRI. Click the button below for free legal advice from expert NRI lawyers.
Procedure of Succession certificate NRI
• Step 1: NRI LEGAL CONSULTATION
Our first step when we provide Succession certificate for NRI is to understand the number of legal heirs and the history of property under consideration.
•Step 2: FINALIZING THE BEST LAWYER WHICH SUITS YOU THE MOST
Following up with the initial consultation and upon understanding your exact query, we will finalize the best NRI property lawyer for Succession certificate for NRIs like yourself. Our very resourceful NRI property lawyers as well as your personalized case manager would be available on call 24*7 at timings which suit you the most. The aim is to simplify the process of Succession certificate as an NRI for you and to provide you with an expedited claim at your property.
•Step 3: SUBMISSION OF DOCUMENTS
For NRI succession certificate, documents including address proof, identity proof, proof of ownership of property, information of legal heirs, copy of will shall be needed to submitted to the NRI property lawyer appointed to you.
•Step 4: WILL TO SUCCESSION CERTIFICATE FOR NRI
Wills can be challenged whereas succession certificate is a firm document. The appointed NRI property lawyer will convert your submitted copy of will to a succession certificate and file the application to the concerned court. In case of absence of will, an NOC of all the legal heirs of the property will be needed to accomplish successful completion of succession certificate NRI.
Documents Required for Succession certificate NRI
Why Law Advisor India?
Law Advisor India along with the panel of effective and resourceful NRI lawyers provides fastest NRI legal services. If you’re an NRI and are stuck with any legal work in India. We ensure we’ll get it done for you in record time.
Cost of Succession certificate NRI starts from 49$; and varies according to the complexity of your case. This 49$ includes the primary NRI lawyer consultation fees along with the documentation cost.
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FAQs about Succession certificate NRI
Foreign Exchange Management Act (FEMA), 1999 and the Income Tax Act, 1961 are both applicable while inheriting an immovable property and its continued ownership by NRIs or even PIOs/ OCIs. The individual who receives the property asset is known as the inheritor and the procedure is known as inheritance.
An NRI just like any other Indian citizen can inherit any type of immovable property in India, whether the property is residential or if its commercial. In fact, NRIs have a legit right to inherit agricultural lands as well as farmhouses, which otherwise is prohibited by way of purchase under Indian transfer of property laws.
Additionally, an NRI can inherit any property from family as well as relatives. Besides this, an NRI can also inherit property from another NRI, but subject to certain regulations. For instance, RBI’s approval is mandatory in case the inheritance results in favour of a foreign citizen, who is a non resident Indian (NRI).
It is essential to remember that the individual from whom the NRI inherits the property, must have obtained the property being bequeathed, in accordance with the provisions of the prevalent law relating to foreign exchange, established at the time of the purpose.
Therefore, if the property in question was obtained without acquiring permission from the Reserve Bank of India, when the approval was needed to be acquired, then such property cannot be inherited by the NRI, without prior permission (to be specified) of the RBI.
Yes, a Non Resident Indian (NRI), Person of Indian origin (PIO) or even a foreign national of non-Indian origin can inherit and hold property in India. This includes residential and commercial property, agricultural, plantation and farm land.
- If your father leaves the assets without writing a Will (which means he dies intestate) then the child will have to obtain succession certificate from the Indian Courts. This involves submitting documents to the court such as death certificate of the departed, birth certificate of the successor, Succession Certificate NRI. Property purchase and registration documents, etc.
- There are some restrictions on the repatriation of sale proceeds of inherited property. If these rules are followed, then there is no need to obtain permission from the RBI. Permission applies only to those properties that are inherited from persons who are non- residents themselves. Proof of inheritance must be submitted, and the total repatriation amount must not exceed 1 million US dollars in a financial year.
- For NRIs going through this type of process can be a difficult experience as the courts in India are not what they may be used to in foreign countries.
- Hence, as a precaution it is important to have all the necessary documents related to identification, address or even property to have an easy inheritance process.
For the purposes of transfer we will need the following information:
• Original Death Certificate of a Deceased Person
• Names of Father and Mother of a deceased person. Are they deceased or Alive?
• If the Will executed during the lifetime of a Deceased Person. If yes, a copy of the Will i.e. succession certificate NRI?
• Authorization in the form of Special Power of Attorney (SPOA).
• Any important information pertaining to the transfer.