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Vijay (Technical Analyst)     05 August 2011

Rights on father's asset

My mother expired on 1991 and my father remarried again. Now there are three inheriters : 1 Daughter(married) & 1 son(me) from 1st wife and another son from 2nd wife. My father expired few months ago and he had some bank balance and shares on his name.

As he spent his last period with diseases and hospitals, we managed his account to withdraw money for medical expenses. After his death also, due to some issues we took some money(5k) from the account and spent (after we came to know its not legal). Now we have some amount in the bank(20k). While we approched the bank to withdraw the money, they are asked for legal heir certificate and requires all of them in that certificate should be present or agree to provide the cash to my mother. My sister asking for 50% on the bank balance to sign on the doc to withdraw the money.

I wanna know whether my brother(2nd wife son) have a right on his fathers money or not. If so, it should be splitted into 3 parts right?. Also is that required to count the money in the bank account from the day of his death, or the available money in the account.? And what about the shares, can we sell it when we want and split the money?, or can we spilt the value of the money and can i keep the shares to let it grow?



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 4 Replies

Vijay (Technical Analyst)     05 August 2011

Adding some more data: We are Hindus and residing in tamilnadu.

raj kumar ji (LAW STUDENT )     05 August 2011

vijay ji first of all u make a legal hire certificate .after that if ur sister want balance of 50% she can not get .the bank account is ur mother name or father name who is the nominee of that account .?why should u want the share of the mother account ?plz clear all the matter after that we all gave some suggestion to u on ur matter

Vijay (Technical Analyst)     05 August 2011

We got the legal heir certificate which have my mother name and three of us names. As the certificate having my sister name, bank manager asking to make her presence. Thats where they started to ask the partition. Bank account in my dads name, he didn't mentioned any nominee name, thats why bank asking for legal heir certificate. The shares i'm talking about the Bank share certificates which carries a value of todays share value.

Vijay (Technical Analyst)     11 August 2011

Somebody please help me. I'm waiting for the revert


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