Cowboy (None) 09 December 2013

Inheritance question

Dear Madam/Sir:

My father passed away a few years ago leaving a house (on his name) and liquid cash in bank accounts. Our parents have 2 kids and both of us have given a NOC on the property at that time for our mother. That house was sold by our mother and she purchased another house later that is on her name now. The remaining cash is under her accounts now. As she is alive, can one of her kids claim anything in inheritance from the father? Meaning, can one of the kids go to court claiming any money from the father's house or income now?

Thanks!

Reply Follow

5 Replies

Laxmi Kant Joshi (Advocate ) 09 December 2013

NO , as you both had given noc to transfer your share in favour of your mother and now she is the sole owner of the property and money ,everything is in her name therefore you can not do claim for any money or income which is coming from your fathers house .

Kumar Doab (FIN) 09 December 2013

You have given NOC or relinquishment of your rights in the house of your father in the favor of your mother.

Did you relinquish the rights in cash in bank account also?

The bank account was an account in single name of your father with nomination/without nomination or joint a/c with mandate like E&S with your mother.

If it was in single name with nomination then the bank can discharge its responsibility by making the payment to nominee.

However nomination does not supersede and override succession. The nominee is the hand that receives the payment and is under obligation to divide it amongst the legal heir.

Thus you may succeed to get your share from funds in bank account.

Cowboy (None) 10 December 2013

Thanks for your replies!

Yes, we gave NOC for home and not for cash. Few accounts had nominations and few did not. In short, everything is now under my mother's name. In this case, can one of the children go to court and have a legitimate case to file for share in cash? If so, on how much portion of it? As of now, all bank accounts and balances under them are under my mom's name. Is it possible to claim on my father's funds now?

Thanks!

Kumar Doab (FIN) 10 December 2013

Refer to the guidelines issued by RBI that should be available on website on bank and a printed version should be supplied to the customer/claimant.

Master Circular on Customer Service

20. Settlement of claims in respect of deceased depositors –

Simplification of procedure.

20.1 Accounts with survivor/nominee clause

And

20.2. Accounts without the survivor / nominee clause

The BM of the bank should obtain Letter of Indemnity signed by all legal heir for payment to only one of the legal heir, or should make the payment to all legal heir.

The BM should be in a position to supply copy of all docs on the strength of which the payment to one amongst the legal heir has been made.

The lady may agree to make the payment of the other legal heir on persuasion and mediation by bank, elders and there may not be any need for legal notice or legalities.

It shall be appropriate to show the relinquishment deed signed by you and proceeds of all bank accounts to your lawyer and proceed further after you have under stood the merits in your case.

If you have made relinquishment of all rights without any explicit reference to immovable property only the lady might have produced the same to bank and might have collected the payment and in such a case BM and bank shall not accept any lapse at their end.