Property claim after no will
Drhirdyesh Pant
(Querist) 02 April 2018
This query is : Resolved
My father passed away 10 years back without any will and at that time my mother transferred all the FDs and other savings in her as well as my sister's name. Some of the savings have already been converted to jewellery. My mother has got govt job on his behalf after his death. My father had two houses for which my mother has power of attorney! Due to some issues running in my family between my mother n wife, my mother is threatening me to disown me from the property and throw me n my wife out of one those houses if don't compliy by her ways. I never claimed even for a penny out of the property but now I want to claim my share in my father's savings as well as the house. Can I claim my share since she has already transferred the savings to her n my sister's name? If yes, how I am supposed to go by it?
Guest
(Expert) 02 April 2018
Power of Attorney is Executed by Whom.
Guest
(Expert) 02 April 2018
No Power of Attorney would be Valid on demise of the Executor. obviously your Father
Guest
(Expert) 02 April 2018
Discuss it in detail with all evidences with an Local Advocate of your place.
Drhirdyesh Pant
(Querist) 02 April 2018
Power of attorney is executed by my mother. Actually all the savings FDs and other accounts already HV been transferred by my mother in her as well as my sister's name. Houses are also under my mother's power of attorney. And hence she threatening me n wife to move out
Guest
(Expert) 02 April 2018
The Power of attorney would be Invalid on expiry of your Mother If no transaction had taken place before her Expiry.
Guest
(Expert) 02 April 2018
Discuss in detail with your Advocate. with the Encumbrance Certificates of the Properties from concerned Registrar Office
Guest
(Expert) 02 April 2018
Your description does not give clear picture, as in whose name the property was, whether a flat in some society, whether your father nominated your mother for property and FDs, and how and in what capacity your has made power of attorney and in whose favour.
Guest
(Expert) 02 April 2018
You cannot claim even a single paisa out of the savings and FD's of your father, as the Bank would have legally transferred the FDs in your mother's name if a valid nomination existed in her name. So far as property is concerned, you are yet to make the position clear about the nature and title of property.
Guest
(Expert) 02 April 2018
Legally speaking Nominee is just a Custodian for Bank Amounts with the Responsibility of disbursing the amount to legal heirs. The claims of Legal Heirs supersedes that of nominee.
Guest
(Expert) 02 April 2018
Discuss in detail with Advocate of your place.
Guest
(Expert) 02 April 2018
As per Sec45ZA of Banking Regulation Act the Nominee would get the Right to receive the amounts lying in the Bank Accounts of the deceased.. But it doesnt give Right to " Own " the money Legally by the Nominee but to divide and disburse it to the Legal Heirs as Legal Responsibility. Failing which the Nominee would be Sued in respective courts. If Nominee is also an Legal Heir they could get an Share in the equal rights of legal heirs.
Guest
(Expert) 02 April 2018
The expert is perhaps repeating some hearsay without actually going through the relevant section of the Banking Regulations Act, 1949.
Section 45ZA(2) of the Banking Regulations Act very clearly prescribes that the nominee becomes clearly ENTITLED TO the RIGHTS OF THE DEPOSITOR. The section DOES NOT ANYWHERE STATES that the nominee would divide and disburse the deposits to the legal heirs. The expert may like to re-read the relevant section. Extract of the relevant part of Section 45ZA(2) is given below for his reference:
"where a nomination made in the prescribed manner purports to confer on any person the right to receive the amount of deposit from the banking company, the nominee shall, on the death of the sole depositor or, as the case may be, on the death of all the depositors, BECOME ENTITLED TO ALL THE RIGHTS OF THE SOLE DEPOSITOR, as the case may be or, of the depositor, in relation to such deposit TO THE EXCLUSION OF ALL OTHER PERSONS."
Apparently, depositor would not have been obliged to divide and disburse his rightful deposits during his life time and so, his nominee is also not obliged to disburse the amount to any of the legal heirs.
