Distribution of the money during property distribution.
shivam
(Querist) 27 August 2012
This query is : Resolved
Dear club
Thank you all for answering my query. I have a question ……
My father has given some money in my name and on my mother’s name in bank. I want to ask that during the distribution of the property can the money which is in our name also be distributed among ourselves i.e., whether I have to return the money deposited in our name by my father so that it can be distributed among ourselves or at father’s wish whom he want to give the money? Please reply…
ajay sethi
(Expert) 27 August 2012
if father has during his lifetime given you and your mother money it would be a gfit from your father . the money is standing in your joint names in savings account or fixed deposit . you are owners of the said funds .
Raj Kumar Makkad
(Expert) 27 August 2012
The movable property whether the same is money or any other thing, if given during the life time of deceased then the same shall not be meant for distribution as the same shall be exclusive gift with the person occupying the same.
