Rajnish Kumar 12 November 2024
T. Kalaiselvan, Advocate (Advocate) 12 November 2024
the nominee in a bank account cannot claim the entire deposit amount without disbursing to legal heirs of the deceased depositor
The nominee is responsible for safeguarding the funds until a legal heir claims them. If no legal heir claims the money, the nominee can keep it.
Legal heirs are entitled to the inheritance, not nominees
If a claimant produces legal representation, the bank is legally bound to pay the persons mentioned in the legal representation.