NiTin GuPta 11 June 2020
G.L.N. Prasad (Retired employee.) 12 June 2020
In case of one among the joint holder's death, the amount automatically goes in the name of living person and immediately makes operation Either or Survivor.
Nominee steps in only when both joint holders expire.
Members in the forum can not assure/guarantee as to whether can anyone (in-laws of your aunt or brothers) challenge the money left in the bank account in Court.
If you have such suspicions, you have to take prior adequate precautions like getting registered gift deed or getting bank account through the process of will, etc.
A local advocate can help.in getting a draft of such will or gift deed.
There is no difficulty in getting the money in the bank through EOS and it is automatic after submitting DC of one amount joint holders in case of EOS.
The question is further challenges from others which should be avoided in case of such doubts by taking adequate precautions well in advance.
P. Venu (Advocate) 12 June 2020
Who are the legal heirs to your Buaji?
NiTin GuPta 12 June 2020
G.L.N. Prasad (Retired employee.) 12 June 2020
Please read the reply-- The following is being reproduced for favour of your information
If you have such suspicions, you have to take prior adequate precautions like getting registered gift deed or getting bank account through the process of will, etc. A local advocate can help.in getting a draft of such will or gift deed. (duly registered)
NiTin GuPta 12 June 2020
G.L.N. Prasad (Retired employee.) 12 June 2020
Yes. If there is an account in the name of A & B with an EOS clause, in case of death of any of A or B, the surviving depositor is entitled for the amount simply on the production of a letter with original death certificate.
If you want you can even file RTI Application to any Public Sector Bank or Reserve Bank of India DBOD and seek information by enclosing Rs.10/- postal order fvg bank. as follows:
Information solicited:
1. Please provide me a certified copy of rules and regulations that are applicable to "EITHER OR SURVIVOR ' Clause in operations in deposit accounts.
You can also search in google and find it out with keywords and you can also find such previous judgments. Keywords: Either or Survivor clause in operating banking accounts."
Dr J C Vashista (Advocate) 13 June 2020
Where and what is the type account i.e., any Bank, Post office, demat, Revenue department, Society or any other organisation.in the form of saving, fixed etc. etc.?
EOS can operate.
G.L.N. Prasad (Retired employee.) 13 June 2020
Why the Bank account was in court, in a joint account? What is the precise fact: "of the money left in bank account in court"