heirship in jiont a/c
AJIT KAWATKAR
(Querist) 03 February 2011
This query is : Resolved
A jiont[3]bank a/c was opened in yr 1889 EITHER or SERVIVOR BASIS,the moneny kept there was contribution towards HSG[prop]Socty.which has still not materialised. One of the a/c holder died recently & the heir is asking the bank to add his name in place of his father. Is it legally correct ;since the money accumulated do'nt belong to indivisual.Whether bank can add his name directly with out obtalnning NOC. from serviving Jnt holders.[THE a/c is not on socty;s name]
Amit Minocha
(Expert) 03 February 2011
name cannot be added this way
malipeddi jaggarao
(Expert) 04 February 2011
What is the year ofopening? Is it 1889?
The joint account in name of 3 members is operative either (1) jointly by all or (2) either two of us/any one of us.
In such cases, the surviving depositors have every right exclusively to deal with the account/deposited amount. The name of the legal heirs of the deceased can be added only with the consent of surviving depositors. If surviving depositors are notwilling, the legal heir can get an injunction from court for stopping operations in the account, and can enforce his right through court.
