deceased coop society member's nomination valid or not
yeteendra naidu
(Querist) 25 September 2009
This query is : Resolved
during his life time my father nominated me & my sister as nominees for an open plot in a coop society which has been admitted by the society.whether other children (legal heirs) have a right to claim this property or not. and is there any rule/law preventing the society from registering the plot on two namesriven
adv. rajeev ( rajoo )
(Expert) 25 September 2009
Dear Yateendra,
Other legal heirs will have share in your father's property.
Nomination facility is only to discharge their duty, they cannot claim exclusive rights over the property.
U and ur sister are nominee but you both are not the owner of the open plot. If ur father had made any will regarding the plot in your name then u would have claim the ownership over the open plot.riven
R.R. KRISHNAA
(Expert) 25 September 2009
I do not agree with the above opinion.
In case of nomination in such matters, after your father, the property will devolve on you and your sister. You have to read the clause pertaining to nomination in the plot sale agreement. Generally nominees get the full right in such cases to become the owners of the property itself. It all depends on the clause of nomination in the agreement and its legal effect. Other legal heirs cannot have any right over the property.
yeteendra naidu
(Querist) 25 September 2009
dear sir/s,
when Banks act very promptly by transferring the balances in the accounts (savings/fixed deposits)of a deceased account holder on the basis of a nomination to the nominee without any hitch or any complication, do you think
that the Banks also should go by "will" of the deceased thus nullifying "nomination".
as per your version every nomination can be contested in a court of law, then why should
banks/ associations/ societies have nomination facility at all, instead they all can have a
"will" recorded or registered. As far as i can recollect the wordings in a nomination
are not different from that of a "will".
please enlighten us on the above issues.
Raj Kumar Makkad
(Expert) 25 September 2009
Nomination of self acquired property is sufficient to establish ownership after death of such person in favour of nominee like banks/financial institutions/LIC etc. So both the nominees are equally entitled for the grant of ownership rights in their favour and no other legal heir has any connection with the aforesaid property. Society can register the names of each and every person being owner and there is no bar to enter names of two persons as owners of a single flat.
yeteendra naidu
(Querist) 25 September 2009
Dear Sir,
will you please quote a few citations in this context as mr sarvesh k sharma, expresses doubt that there is supreme court ruling against such nominations by coop societies. thanks a lot for your immediate
response.
Bhumik Dave
(Expert) 26 September 2009
I m fully agreed with Mr. Krishna & Raj.
Sarvesh Kumar Sharma Advocate
(Expert) 25 September 2009
