Legal heir certificate
Rakhi
(Querist) 10 September 2015
This query is : Resolved
Sir
I have mutual funds under HUF with my husband as a Karta and me and my two minor sons in HUF.My husband recently passed away.Now all mutual funds under HUF have been transferred on my name and even the bank has changed the karta to my name and authorised me as signatory.
As per Hindu Succession act the wife cannot become the karta and I had already put up this query before the forum and from those responses only I got to know that under such cirumstances where no major is present in the HUF the wife can assume the role of the karta.But One of the mutual fund companies are simply refusing that and are demanding to make my minor son karta and to open an account with his name and with me as a guardian.
Now with my minor sons in school i dont want to open another HUF a/c as I already have two a/c's of HUF but the company is refusing to give the money.
My query is that I have a legal heir certificate also from the SDM,in the present case can that help me to get the money and if not then what is the next best alternative ?
Thanking you
RAKHI .
Only one company is refusing and others have accepted me as Karta.
ADV-JEEVAN PATIL, MUMBAI
(Expert) 17 September 2015
1) legal heir cert. ahould serve purpose
2) otheewisw there should not be any problem in opening third bank account,if it heps
T. Kalaiselvan, Advocate
(Expert) 19 September 2015
By producing legal heirship certificate as well as an indemnity bind, you may withdraw the said funds in all your favor.
Approach the bank or the company with the documents supporting your claim, if hey turn down your request ask them to give in writing so that you can pursue the matter legally.
