Legal hire vs nominee
Suraj Kumar
(Querist) 08 November 2014
This query is : Resolved
1. Husband nominate his mother as nominee in bank .
2. Wife live saperately from husband .
3. Husband died.
If wife claim husband’s money from bank as legel hire and husband’s mother claim the same as nominee – who will get the money deposited in the bank ?
ajay sethi
(Expert) 08 November 2014
nominee is only trustee for legal heirs . if wife also lodges claim bank will direct them to obtain succession certificate from court for disbursement . in the alternative bank may direct mother to submit indemnity bond before handing over account proceeds
Sudhir Kumar, Advocate
(Expert) 08 November 2014
agreed with Mr Sethi.
Get a retain order from court against the mother against using the money til decided.
Sudhir Kumar, Advocate
(Expert) 08 November 2014
repeated
http://www.lawyersclubindia.com/experts/Nominee-vs-legal-hire-506331.asp#.VF34wGeO5G0
adv. rajeev ( rajoo )
(Expert) 08 November 2014
Nominee's duty is to disburse the amount of the deceased. She has no share in that. But mother being the legal heir of the deceased she can claim her share in that.
Guest
(Expert) 08 November 2014
Bank is liable to pay the money of the deceased to the nominee only, not anyone else, unless ordered otherwise by the court to the bank or the nominee to pay. Wife has to prove her claim through the court of law only.
Isaac Gabriel
(Expert) 08 November 2014
In case of death,if the legal heirs stakes claim disbursement must be made devoid of the nominee.
Guest
(Expert) 09 November 2014
Dear Shri Isaac,
I may have to differ with your opinion, "if the legal heirs stakes claim disbursement must be made devoid of the nominee." Claim by legal heirs other than nominee cannot be entertained directly by the bank without the specific orders of the court of law. A nomination cannot become void if the heirs put claim on the bank. The bank cannot act as a court of law by taking the law in to their own hands to decide the case against the law of nominations. It is for the heirs to approach the court of law against the claim of the nominee and can also seek stay from the court against the bank before the payment is actually made.
Anirudh
(Expert) 09 November 2014
I completely agree with the views of Mr. Dhingra.
If one fears that the nominee after receiving the money will not distribute it to the legal heirs and there is every likelihood of the money being wasted, then as rightly suggested by Mr. Sudhir Kumar, one has to approach the Court well in time (i.e. before the nominee could receive the money) - either restraining the bank from disbursing the money to the nominee or restraining the nominee from receiving and/or using the money, pending finalisation of the issue.
Sudhir Kumar, Advocate
(Expert) 09 November 2014
Agreeing with Mr Dhingra I will add that unless the legal heir obtains any restrain order from the court the amount will be disbursed to the nominee.
Furthermore the banks are neither EPFO covered (not atleast disclosed by the querist)not covered by GPF(CS) rules of GPF(CPF) rules. They have their own rules. The legal heirs need to consult the definition of family given in such rules which may be handy in support of their claim.
Kumar Doab
(Expert) 10 November 2014
Agreed with Mr. Dhingra. The banks/bankers cannot have their own rules on deceased deposor A/c with/without nomination.
RBI issues guidelines and these are clearly explained in Sec 19,20 of Master Circular on Customer Services.
RBI guidelines have statutory force.
No bank/bankers can violate.
Devajyoti Barman
(Expert) 15 November 2014
The author is often found to have posted professional/academic queries.
