All about Succession Certificate
The term succession refers to the process by which the legal heirs acquire the property of the deceased.
A Succession Certificate (SC) however is the one that is granted exclusively in respect of “debts and securities” such as Provident Fund, Bank Deposit, Insurance, Shares etc to which the deceased was entitled to, as per Section 370 read with Section 214 of the Indian Succession Act. Therefore, one can apply for a SC only in respect of debts and securities.