Will

Prasad (Querist) 08 December 2015 This query is : Resolved
My wife father had some deposits on his name in 2010 and at that time he made his daughter as nominee and last month he expired Last year 2014 June he wrote a will in that he has written all his deposits nominee as son .

Which is correct nominee as per law and who is entitled to receive amount

Follow Query

Report Abuse

Guest (Expert) 08 December 2015
Nominee is a Person Entitled with Responsibility to Release and Distribute the Deposits to all the Legal Heirs of the Deceased.As a Nominee it will not fetch any Right Over it.

Kumar Doab (Expert) 08 December 2015
Bank can discharge its responsibility by making the payment to nominee.

Nominee is not owner but just a trustee/hand to receive and pass on to legal heirs/successors.

So a legal heir/successor can claim share from nominee or submit objections to bank or bring court order to block payment to nominee.

The son can produce WILL for execution.

If the WILL is valid and executed the son can claim entire amount from nominee.

The WILL is to prevail upon nomination.

Rajendra K Goyal (Expert) 08 December 2015
Agree with the expert Kumar Doab.

ADV-JEEVAN PATIL, MUMBAI (Expert) 09 December 2015
Agree with Deob and add that for the sake of convenience assign proceeds to nominee and also take Indemnity Bond. However nominee cannot deprive of other heirs right.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries