Bank fixed deposit nominee rights?

Dear Querist,

 

In the event of the death of a Fixed Deposit holder (your mother), the deposited money should be paid only to nominees (in this case, you) even if there were rival claims by other individuals (your brothers and sisters or your khaandaan members) on the ground of being the legal heirs of the deceased, the Madras High Court Bench here has said. Justice K.K.Feb 14, 2013

In case you want to give the money to your  brothers and sisters out of love and affection, court wont interfere.

It is believed that you are all Hindu.

Confirm!

Bank can dispose its responsibility by making the payment to nominee.

Nominee is mere trustee and has to pass on the funds to all legal heir(s) of deceased depositor.

In case of Hindu Female that dies without disposing her self acquired/absolute estate in her life time, her estate devolves firstly, upon the sons and daughters (including the children of any pre-deceased son or daughter) and the husband; 

 

So you may obtain the finds from Bank and keep your share with you and pass on other’s ( your father,brtothers,sisters……) share to them.

Agree with kumar daob

Hi.. Kumar doab sir, iam hindu.. and i don't want to give that money to my siblings because my mom said to me before diposit in fd, its my self acquired money only for u (education and settlement purpose) no one ask share rights on the money.. presently my siblings want share, if I don't give share they did not signature on legal heir cerficate, but bank wants legal heirs, so what iam doing now..

Go through link given below:

https://www.wikiprocedure.com/index.php/India_-_Obtain_Legal_Heir_Certificate_(Succession_Certificate)