How to enforce registration of nominee?
Sidhhi
(Querist) 29 December 2024
This query is : Resolved
There are 3 Administrators for equitable distribution of assets of deceased person.
Eldest administrator aged 78+ wants to nominate his 2 daughters in the two accounts ie 1) Savings Account and 2) Demate Account being operated by the administrators jointly to safe gaurd his 20% share in the assets post his demise but other 2 administrators are not agreeing due to ulterior motives. How it is possible as BoI wants all 3 administrators to sign the nomination forms with 20% share. Thanks for your time and expert advice.
T. Kalaiselvan, Advocate
(Expert) 29 December 2024
You may note that a nominee cannot enjoy the property of the deceased in the capacity of nominee to movable or immovable assets of the deceased even if it was the individual or jointly shared property of the deceased.
The nominee can only receive the assets on behalf of the legal heirs of the deceased as a trustee and then disburse the same to them accordingly.
Therefore it is advisable that a Will can be made bequeathing the property accordingly to enable the beneficiaries to avail the assets properly.
Dr. J C Vashista
(Expert) 30 December 2024
Similar to nomination or an administrator can receive the assets of deceased for further distribution to its legal recipients i.e., legal representative of deceased.
