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Bond to issue succession certificate under Section 375 of Indian Succession Act 1925.

Format of Bond to issue Succession Certificate under Section 375 of Indian Successes ion Act.

As per Section 375 of Indian Succession Act, (1) The District Judge shall in any case in which he proposes to proceed under sub-section (3) or sub-section (4) of section 373, and may, in any other case, require, as a condition precedent to the granting of a certificate, that the person to whom he proposes to make the grant shall give to the Judge a bond with one or more surety or sureties, or other sufficient security, for rendering an account of debts and securities received by him and for indemnity of persons who may be entitled to the whole or any part of those debts and securities.

Sample Format of Bond for Succession certificate is given below.

 

BOND

Know All Men that we, ________________, s/o Late _______________ r/o _______________and Mr. _________________, s/o r/o ______________________
(Surety for Mr. ________) bind ourselves jointly and severally to Shri ___________, District Judge, for payment to him or his successor in office of the sum of Rs_________.

We have signed this bond on this _____ day of _____ at _______ .

Signature.

Administration Signature.

Surety

Whereas the Court of the said District Judge, Mr._____________, has passed the order on the ______day ____of and has granted the succession certificates in favour of the said Mr. _____ to the estate of Late ______ deceased on the condition that said Mr. _____ execute a bond with one surety of Rs._______.

And

whereas the said Mr. _____________ has agreed to execute the bond for the said Rs __________________and

the said Mr. ______________ has agreed to enter into the above bond as surety for said Mr. _____________.

Now This Bond Witnesses As Under:

Now the condition of the above bond is as under:

1. That the said Mr. ___________ shall prepare an inventory of the property of the deceased within six months form the date of the execution of the bond.

2. That the accounts of the debtor and creditor shall also be prepared by the said Mr.__________.

3. That the said Mr. _____ shall indemnify the person who may be entitled to the whole or any part of such debts.

4. That if the above condition is satisfied then the bond shall remain in force, otherwise the bond shall be void.

We the above mentioned parties have signed this bond on ______this ____ day of after
fully understanding the contents of this bond in the presence of the following witnesses.

SUCCESSOR ___________________

Name __________ Signature _________ Address________

Witnesses
1.

SURETY _________________

Name __________ Signature _________ Address________

2.

 

Section 375 of Indian Succession Act, 1925

375. Requisition of security from grantee of certificate.

(1) The District Judge shall in any case in which he proposes to proceed under sub-section (3) or sub-section (4) of section 373, and may, in any other case, require, as a condition precedent to the granting of a certificate, that the person to whom he proposes to make the grant shall give to the Judge a bond with one or more surety or sureties, or other sufficient security, for rendering an account of debts and securities received by him and for indemnity of persons who may be entitled to the whole or any part of those debts and securities.

(2) The Judge may, on application made by petitioner and on cause shown to his satisfaction, and upon such terms as to security, or providing that the money received be paid into Court, or otherwise, as he thinks fit, assign the bond or other security to some proper person, and that person shall thereupon be entitled to sue thereon in his own name as if it had been originally given to him instead of to the Judge of the Court, and to recover, as trustee for all persons interested, such amount as may be recoverable thereunder.

 



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