Can legal heir operate bank A/c.

Querist : Anonymous (Querist) 29 December 2009 This query is : Resolved
Can a legal heir run/operate the bank account of a proprietary concern till the estate of a deceased person is fully settled ? Bank says to close the bank a/c by transferring the funds to the nominee. However, business cannot be immediately closed and till the things are settled, the obligations of the business are required to be met. Please help / suggest. Thanks & Regards.

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s.subramanian (Expert) 24 August 2010
Bank is right . A dead persons's cannot be kept alive and allowed to be operated by anybody else. It will be illegal.

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