My grandmother died last year. Now her loan refund amount came by cheque that can be only in her name (late grandmother). The bank account of grandma had a sole nominee that is me. So can I deposit the cheque in the bank and by law , me, the nominee will get that amount. Is this legally correct? Her will says that me and my sister are equal heirs in everything. After depositing the cheque when I close the account with death certificate, being a nominee, I'll get the entire amount.
So, deposition of cheque in the name of deceased and claiming the money in the account. Is this all legally right?
As a nominee you can claim the amount but that doesn't mean that you should keep it with you.you got to share it with your sister equally as per the will
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