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Mahadevan (manager)     26 July 2017

Probate of will order and surety

When one has
CASE ONE
1 "Probate of WILL" order obtained from court after 3 years, including publication of notice in newspapers for "four bank deposits" only, no fixed assets involved.
2.Probate orders, clearly, to pay deceaseds bank deposits to the person named in the will .
3. Three banks have accepted the claim without asking for surety, saying that probate court order overrules surety clause.
4. One bank is insisting for surety even with probate. Although, The legad advisor to bank has given his opinion that no surety is needed in probate order, telling branch manager that court orders relive him of any resposibility.
5. But branch manager is insisting on surety "to be on safe side"
6. Please give your opinion.
CASE TWO
7. In another Post Office account the nominee is mentioned but no address given and he is not known/traceable/shownup even after five years.  Probate order mentions that account no. and amount clearly,  in favour person named in will . How to claim. 
8. Again in this case legal advisor says that nominee is cutodian and not owner and legal heir mentioned in probate has claim. The authorities not deciding and keeping it pending saying this is a new case for themPlease give your opinion what to do next.



Learning

 4 Replies

Kumar Doab (FIN)     26 July 2017

If despite order from court and internal legal opinion BM is transgressing meet higher officials e.g; Circle head and seek intervention to resolve or escalate to CEO/MD under proper acknowledgment…………..

You may also involve CEPD-RBI…

Kumar Doab (FIN)     26 July 2017

Will may prevail upon nomination.

Meet Local Postmaster of the area, having jurisdiction of the PO headed by Sub-Postmaster in which deceased depositor a/c is held.

 

 

Mahadevan (manager)     27 July 2017

Regarding "You may also involve CEPD-RBI" What is full form and their function. I am surprised that bank managers who agreed to "No surety against court order" had to be convinced, Only SBI officers were very clear and told at first instant that they dont need it as probate mentions ac no, branch name , balance and name of beneficiary in clear terms.

Mahadevan (manager)     15 August 2017

Any more expert opinions please on surety issue against probate..

With probate order from court in hand who applies to bank for the deceased claim

1. Executor

OR

2 Beneficiary.


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