- IEPF & Share Recovery Services — Pan-India.
- +91 88829 91427
- +91 80768 85539
- info@expertvuw.in
- Pan-India service available.
No Nominee? How Legal Heirs Claim Shares, Deposits, Insurance and Savings
A missing nomination does not mean the money is lost. It means the institution needs proof of who the legal heirs are before it pays. What proof is enough depends on the institution and the amount involved.
How each institution treats a claim without a nominee
| Asset | Simplified route (no court certificate) | When a court certificate is usually needed |
|---|---|---|
| Bank deposits & lockers | Up to ₹15 lakh at commercial banks, ₹5 lakh at co-operative banks — claim form, death certificate, ID, indemnity, heirs' no-objection, proof of heirship (RBI Directions, 2025) | Above those limits, or disputes |
| Shares & securities | Up to ₹10 lakh (physical) / ₹30 lakh (demat) — affidavit-cum-NOC of heirs and indemnity (SEBI, 23 Jul 2026) | Above those limits |
| Life insurance | Insurer's own claimant statement, indemnity and heirs' consent — limits vary by insurer | Larger claims or disputes |
| Post office savings | Limited amount per account on affidavit, disclaimer and indemnity (Department of Posts guidelines) | Above the limit |
| Mutual funds | Same SEBI transmission framework as shares (effective Aug 2026) | Above the limits |
Legal heir certificate or succession certificate?
A legal heir certificate (called a surviving member certificate in Delhi) is issued by the state revenue department and identifies the family members. A succession certificate is issued by a civil court under the Indian Succession Act and authorises collection of specific debts and securities. Institutions ask for one or the other depending on the amount. See Succession & legal heir certificate support.
Where families get stuck
- One heir is abroad, unreachable or unwilling to sign a no-objection
- The deceased's name is spelt differently on different records
- A joint holder has also died
- Nobody is sure which heirs are legally entitled (for example, where a will exists or a heir has died after the holder)
How we help
We identify the correct route for each asset, prepare one consistent heirship file that every institution can use, coordinate signatures from heirs in India and abroad, and follow up until each claim is paid to the heirs' own accounts. Where a court certificate is needed, an empanelled advocate files the petition and we coordinate.
Frequently asked questions
Can the bank refuse to pay because there is no nominee?
Not for that reason alone. RBI's 2025 Directions set a simplified procedure for claims up to ₹15 lakh at commercial banks and a 15-day settlement timeline after complete documents.
What is a "no-objection" or "disclaimer" from other heirs?
A signed statement by the other legal heirs agreeing that the claim may be paid to a named heir. SEBI's 2026 framework uses a single affidavit-cum-NOC for this.
What if the heirs disagree?
Institutions will usually ask for a court order or succession certificate. We can coordinate with an advocate; we do not take sides in family disputes.
Talk to us
Tell us what you have — a certificate, a passbook, a policy number, or just a name and a company. We will tell you, free of charge, which official route applies and whether you need help at all. WhatsApp or call +91 88829 91427 (10 AM – 7 PM, Monday to Saturday), or use the free case review form.
Expertvuw Management Pvt Ltd is a private company. We are not affiliated with or authorised by IEPFA, SEBI, RBI, IRDAI, EPFO, PFRDA, India Post or any court. The official routes described on this page are free; our role is documentation, heirship paperwork and follow-up support. The claimant remains the applicant and all money is paid directly into the claimant's own account. Information is general and current as of the "last updated" date; rules change and each case differs. Last updated: 28 September 2026. Reviewed by: Expertvuw compliance team.