Bank locker without will or nominee

Dear Sri. Raman,

Greetings. Normally the Banks require a Succession Certificate in the absence of a nomination. Of course, if the four of you come to an  understanding it will be good. But, if concerned parties decide to opt for litigation, it will take some years to resolve the issue. Try to mediate an arrangement amongst yourselves. Best Wishes

Mr. Kalyanam has given valuable advice. Kindly follow it.

On its part bank has to adopt Customer Friendly approach as per guidelines issued by RBI, IBA etc and approved by its board and as published on its web site and available with BM of the bank. You may obtain the bank polic, from bank.

The moment BM feels and realizes that legal heirs have tussle and no mutual understanding the BM shall, all antennas shall be up and bank shall adopt a rigorous approach to safeguard its interest and it may take lot of time and expenses to obtain the docs asked by bank.

21.      Access to the safe deposit lockers / safe custody articles return of

         safe custody articles to Survivor(s) / Nominee(s) / Legal heir(s):

21.2      Access   to   the   safe   deposit  lockers   /  return   of  safe   custody

articles (without survivor/nominee clause)

21.2. There is an imperative need to avoid inconvenience and undue hardship

to legal heir(s) of the locker hirer(s). In case where the deceased locker hirer

had   not   made   any   nomination   or   where  the   joint   hirers   had   not   given   any

mandate that the access may be given to one or more of the survivors by a

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                                                                   DBOD-MC on Customer Service 2009

clear   survivorship   clause,   banks   are  advised   to   adopt   a   customer-friendly

procedure drawn up in consultation with their legal advisers for giving access

to   legal   heir(s)   /   legal   representative  of   the   deceased   locker   hirer.   Similar

procedure should be followed for the articles under safe custody of the bank.

21.3. Preparing Inventory

21.3.1. Banks should prepare an inventory before returning articles left in safe

custody / before permitting removal of the contents of a safe deposit locker as

advised      in  terms    of   Notification   DBOD.NO.Leg.BC.38/             C.233A-85       dated

March 29, 1985. The inventory shall be in the appropriate Forms set out as

enclosed      to  the   above     Notification    or  as   near   thereto    as   circumstances

require. A copy of the above Notification is shown as Annex IV of this circular.

21.3.2 Banks are not required to open sealed/closed packets left with them for

safe custody or found in locker while  releasing them to the nominee(s) and

surviving locker hirers / depositor of safe custody article.

21.3.3. Further, in case the nominee(s) / survivor(s) / legal heir(s) wishes to

continue      with   the   locker,    banks     may    enter    into  a   fresh    contract    with

nominee(s)   /   survivor(s)   /   legal   heir(s)   and   also   adhere   to   KYC   norms   in

respect of the nominee(s) / legal heir(s).

21.4    Simplified operational systems / procedures

As per the direction of Reserve Bank, the Indian Banks' Association (IBA) has

formulated a Model Operational Procedure (MOP) for settlement of claims

of the deceased constituents, under various circumstances, consistent with

the   instructions   contained   in   this   circular,   for   adoption   by   the   banks.   The

banks   should,   therefore,   undertake   a   comprehensive   review   of   their   extant

systems   and   procedures   relating   to   settlement   of   claims   of   their   deceased

constituents      (i.e.,  depositors     /  locker-hirers     /  depositors     of  safe-custody

articles)    with   a  view   to  evolving     a simplified    policy    /  procedures     for  the

purpose, with the approval of their Board, taking into account the applicable

statutory provisions, foregoing instructions as also the MOP formulated by the

IBA.

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Both the above opinion are true to the mark, but to me it appears there is no chances of an amicable settlement so in that case go for a succession certificate where notices to the legal heirs will be given by the court. This is the only procedure available with you. Go for the procedure of getting the successon certificate.

an amicable solution by involving a mediator would be preferable to avoid the long drawn legal battle.

In these type of the matters I have personally seen that one of the party deliberately avoid the matter in order to delay the settlement and so in such case I think going for the succession certificate is the only option.

Try the mediation by elders. It may be worth it.

Do not let the bank get hint of dispute.

If nothing works approach a lawyer and court.