Probation of will
S Lakshmanan
(Querist) 03 February 2017
This query is : Resolved
My uncle got a will registered in Tirunelveli, Tamilnadu and it has come into force now. It is said that probation is not required anymore for a registered will by a Hindu. Is it correct? If yes,what should I do if bankers still insist on getting the will probated? I've been appointed as the executor for the above will. Kindly advise.
Guest
(Expert) 03 February 2017
Is your Bankers are from other states.
Guest
(Expert) 03 February 2017
Bank/Bankers are Right.Discuss with your Local Good Advocate to Probate the Will.
S Lakshmanan
(Querist) 03 February 2017
Sir,
I thank you for the advice.The banker is ICICI Bank.
Is there any way in which one can draft a will so as to avoid probation later? Won't the objective of a will be defeated if anyone of the legal heirs challenge it, raising an unfair demand?
Kumar Doab
(Expert) 03 February 2017
It is mandatory to probate the WILL at Presidential towns of Chennai, Kolkota, Mumbai.
If contested WILL may land up in probate court.
Registered WILL is not easily set aside on counts of authenticity.
P. Venu
(Expert) 03 February 2017
The Will in question need not be probated. But you can get a Letter of Administration.
S Lakshmanan
(Querist) 04 February 2017
Thank you very much for your kind advices
Adv. Yogen Kakade
(Expert) 04 February 2017
Is the amount in bank is in question or is it related to some property related to the bank transaction, need to be seen.
Bank do require the will probated compulsorily in certain cases. Meet the legal department of the bank.
Kumar Doab
(Expert) 04 February 2017
You are welcome.
Rajendra K Goyal
(Expert) 04 February 2017
How the Bank is concerned?
In most of the accounts with Bank nomination is required, the accounts need to be dealt with in accordance of nomination.
However, if the Bank does not agree, lodge complaint with the Banking ombudsman.
Kumar Doab
(Expert) 04 February 2017
You have not posted why the probation of WILL is required and what estate is bequeathed in WILL!
What unfair benefit is being demanded by other legal heirs from beneficiary in the WILL!
ADV-JEEVAN PATIL, MUMBAI
(Expert) 05 February 2017
It seems u have misunderstood the Bank. What they r aking is probation to be done in our. Will need not require to be registered. Pl confirm from bank appropriate requirements.
ADV-JEEVAN PATIL, MUMBAI
(Expert) 05 February 2017
It seems u have misunderstood the Bank. What they r aking is probation to be done in our. Will need not require to be registered. Pl confirm from bank appropriate requirements.
S Lakshmanan
(Querist) 05 February 2017
Dear Sirs,
It relates to the NHAI bonds held in demat form in ICICI Direct Depository Participant (DP). The nomination by the testator is now missing in the bank records. Other immovable properties have been transferred to the beneficiaries based on the contents of the will.
The will has been registered in Tirunelveli, Tamilnadu and there is no property schedule situated in Metros. The bank is asking either for a probation or letter of administration (LoA).
Kumar Doab
(Expert) 05 February 2017
If the nomination existed but is missing in Bank's records then it is not anyone's fault.
Do you have any evidence that Nomination form was submitted and made?
Kumar Doab
(Expert) 05 February 2017
If the instrument and its form is per regulations of SEBI then relate with regulations and value of the instrument..................in case the nomination was never applied/existed.
IN case of WILL if it is valid then press to accept NOC/Indemnity by legal heirs.........
rajeev sharma
(Expert) 06 February 2017
The requirement raised by bank is not legal. No probate is required in your case. The will has been acted upon and is a valid document. So far is nomination part is concerned it does not give ownership of any thing in case of will property devolves as per will. If branch does not agree to your contention put up your case to higher authority.
Dr J C Vashista
(Expert) 08 February 2017
The Presidency towns (Chennai-earlier Madras) it is compulsory require the will to be probated compulsorily. However, how does it transfer the title on the basis of nomination or will?
Is it possible that NHAI bonds dmat account with ICICI Bank has lost nomination? I do not agree.
krishna mohan
(Expert) 20 February 2017
It relates to the NHAI bonds held in demat form in ICICI Direct Depository Participant (DP). The nomination by the testator is now missing in the bank records
Nomination is invariably taken in the application itself. If not, the legal heir will have right to claim by default. In any case it is worth reporting internal grievance system of ICICI to seek the right advise in writing and failing which you can approach Ombudsman.
Kumar Doab
(Expert) 20 February 2017
Is the communiqué from Bank in writing that: Nomination is missing? Implying NO nomination was ever made.
OR nomination form/mandate is lost?
Are you sure Nomination was made and registered?
Do you have a copy or any evidence or you know any process to establish Nomination was made?
If yes, as already posted contest and prove the bank wrong.
Assuming that: Nomination was made and you are able to establish it then: bank can pay to nominee and discharge its responsibility.
In case of equity shares; Nominee is owner (Unlike other Instruments e.g; FDR) ( NO comment on: NHAI bonds held in demat form in ICICI Direct Depository Participant (DP)) .
If you have evidence on Nomination and can’t establish it: then you may accept that it may be as good as: NO nomination was made.
In that case the Legal heirs can stake their claim.
If owner was/ and applied from say; Tirunelveli, Tamilnadu , then you might succeed to claim location at Tirunelveli.
In case of valid WILL (and duly acted upon in your case, without any cloud on it) the Bank may agree to pay as per WILL, and you may press to accept NOC/Indemnity by other legal heirs..................
S Lakshmanan
(Querist) 20 February 2017
Dear Sirs,
Thank you for all your replies. The bank has offered to resolve the issue as follows;
Since the SB account has a nomination, the bonds upon maturity (March'17) will be credited to the SB account of the testator and then-after it can be transferred to the beneficiary as per the will.
Kumar Doab
(Expert) 20 February 2017
If this is suitable to you, then it should be OK.
Would bank ask for WILL to be probated?
