distribution of deceased bank account asstes

Querist : Anonymous (Querist) 29 April 2010 This query is : Resolved
bank has transferred to the son (nominee) the settled amount of the savings bank account, of deceased father whose wife had already died. However, there are four married sisters also alive in the same hindu family. In what manner these assets shall be distributed, in case son is not the absolute owner as per legal provisions, and what procedure should be followed by the son to distribute it to other legal heir?

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Parthasarathi Loganathan (Expert) 29 April 2010
Banks settle death claims based on nomination. The successors can claim their share from the nominee.

Querist : Anonymous (Querist) 29 April 2010
it means that bank account is not assigned to the nominee, whereas it is assigned to the nominee in case of nomination of shares of a company? Is my analysis/conclusion right?

Querist : Anonymous (Querist) 29 April 2010
please clarify on my analysis/conclusion.

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