NOMINATION CONFLICT
NILESH
(Querist) 14 August 2009
This query is : Resolved
MY WIFE HAD NOMINATED HER SISTER AS AN GAURDIAN IN PROVIDENT FUND, PENSION, GSLI, GRATUITY, SUPER ANUUATION AND IN SALARY AND OTHER DUES. SHE HAS NOMINATED HER SISTER IN 50% AS AN GAURIDIAN OF MY DUAGHTER OF 4 YRS. AND REST TO ME. KNOW AT THE TIME OF CLAIM, SHE HAS REFUSED TO PAY THE AMOUNT WHICH SHE WILL RECV ON BEHALF OF MY DAUGHTER. IS THE NOMINEE ALOWED TO USE THE MONEY? AS AN LEGAL HEIR IS NOT THAT MYSELF AND MY DAUGHTER ARE THE ONLY PERSON TO RECV. THE MONEY? IF NOMINEE IS NOT A FAMILY MEMBER THEN IS NOT THAT THE NOMINATION IS CALLED INVALID?
PLS DO SUGGEST WITH DETAIL MENTIONING THE ACT, SECTION NO AND IF ANY OTHERS. ALSO DO LET ME KNOW THE LEGAL DEFINATION OF NOMINEE AND WHAT ARE THE LIABILITIES OF NOMINEE. WHAT I HAVE LEARED IS NOMINEE IS JUST LIKE TO TRUSTEE WHO CAN RECV. THE MONEY BUT CANNOT US THE MONEY.
SECONDLY MY WIFES SISTER AND HER HUSBAND'S FINANCIAL POSITION IS NOT GOOD. HER HUSBAND IS HAVING BANK DEBTS IN THE MARKET. MY WIFES BROTHER IS SEATING IDEAL AT HOME DOING NOTHING. SO THE SOURCE OF INCOME FOR ALL OF THEM IS MY FATHER IN LAW'S PENSION.
Y V Vishweshwar Rao
(Expert) 14 August 2009
The Nomination is as Guardian of Minor Daughter - she- Nominee can not be owner of the Funds - She is only Trustee for the Duaghter and she can not use the funds for herself - it should be paid to Daughrer - no more rigths - the Nomination itself is as guardian - Guardian can not be come owner of the Assets-
Kiran Kumar
(Expert) 14 August 2009
even i hold the same view but ve replied in other query...by same visitor.
charudureja
(Expert) 14 August 2009
Yes this query has already been resolved with the same answer.
