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Hardij (Champu)     13 December 2015

My father added yonger brother's name in joint account

Hello Experts

My father have added name of my younger brother's name  in joint bank account. I am elder son in the family. 

I want to know my rights after death of my father can I claim my share ? Or it will directly go to my brother?



Learning

 2 Replies

Punit Gupta (Owner)     13 December 2015

Dear Hardij,

The mode of Holding/ Operation in Bank account has no bearing on the property/will of the executor

As per banking norms, In a Joint account, after the death of the First holder, the benefits/rights are transfered to the Joint holder in the account, on the presentment of proper documents/Certificates and certain formalities.

On the death of both the holders, the benefits will go to the Nominee registered to that account.

Hope the above information suffice your purpose.

Regards:

Punit

Kumar Doab (FIN)     13 December 2015

If your father is owner he can add anyone with him.YOu can not object.

The mandate of the a/c shall determine who will get the proceeds in what event, e.g. in case of joint/E&S/former or survivor a/c etc.

 

Visit bank and inquire........................or log onto website of the bank.


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