Who all will be legal heirs?

Why Bank wants to handover the property papers to A?

Class I legal heirs of deceased Hindu Male have 1st right i.e: Mother (if alive on date of death), Wife (if alive on date of death), sons, daughters………….

Obtain death certificate, Legal heir certificate (usually O/o Tehsildar issues it).

Obtain authenticated copies of Loan brochure, loan application, loan approval, loan agreement ,copy of docs submitted, loan statements till last month…………………from bank.

Usually an insurance policy is arranged by Bank to cover death of borowwer and thus debt.

The premium is collected from  borrower(s).

Obtain this information and copy also.

It is felt that death should be informed under proper acknowledgment to bank.

As Loan has been paid in full, property papers need to be collected from the bank.

Banked has asked all to borowers to come in person or in case one of the person is not available then authorization letter need to be provided. In my case as co-borowere in no more,Bank is asking for death certificate and Indemnity bond signed by all legal heirs of Person B for handing over the Property papers to Person A.

As already posted: Mother of deceased (if alive on date of death), Wife of deceased  (if alive on date of death), all sons, all daughters………….are ClassI legal heirs.

 

Bank may accept, per procedure/rules/laws, Mother of daughter of deceased since daughter is minor and mother is natural guardian......................

Bank is probably calling : Mother of deceased (if alive on date of death), Wife of deceased..........