Nomination

Querist : Anonymous (Querist) 05 November 2009 This query is : Resolved
if a person 'A' nominates to his holding of shares and debentures favouring person 'B' who is not a relative of 'A' but is just a friend then in the event of death of 'A' what is the position of nomination.

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Arul Kumar (Expert) 05 November 2009
A nominee does not become an absolute owner of the property on the death of real owner. The nominee acquire a legal right to manage the property as per the law.

Raj Kumar Makkad (Expert) 05 November 2009
In self acquired properties the law of nomination prevails better than law of inheritance so B has better right then the real legal heirs of A in the given circumstances.

Sachin Bhatia (Expert) 05 November 2009
If the property is self acquired then the nominee prevails all the rights given in nomination.

charudureja (Expert) 05 November 2009
a nominee is not a right holder he is just a caretaker who in the event of death of the person has to take care of that property/ account. he cant oust the other heirs

Anish goyal (Expert) 05 November 2009
Nominee can only claim money but he didn't get any kind of interest in that claim. The succession law prevails over the nomination. So the heirs have the right over the money.
See SHIPRA SENGUPTA V. MRIDUL SENGUPTA 2009 SC

niranjan (Expert) 05 November 2009
I agree with learned charudureja and anish goyal The nominee is a mere trustee and he cannot override the succession.

adv. rajeev ( rajoo ) (Expert) 06 November 2009
nominee duty is to discharge his duty, he cannot claim any exclusive tittle or rights of the properties of deceased.

Adv Archana Deshmukh (Expert) 06 November 2009
Nomintion do not transfer heirship rights over the property. Nominee does not become owner of it. Nominee has the right to claim the property and holds the property in trust for the legal heirs.

Khaleel Ahmed Mohammed (Expert) 06 November 2009
If there is no Will executed by the deceased along with nomination,the rights over the property automatically transferred to the nominee.

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