Survivor of joint account.
Adv. Deepak
(Querist) 25 January 2013
This query is : Resolved
Resp. Members,
Would anybody give me caselaws supporting Section 14(1) of Hindu Marriage Act 1956, wherein female becomes absolute owner of the amount in the joint account, after the death of other male joint account holder, excluding legal heirs of the deceased male joint account holder?
Request urgent help.
Regards.
R.K Nanda
(Expert) 25 January 2013
search indiankanoon.com.
Raj Kumar Makkad
(Expert) 25 January 2013
Deepak! You please obtain the desired judgments from indiankanoon.
V R SHROFF
(Expert) 25 January 2013
u hv to search web ur self
prabhakar singh
(Expert) 25 January 2013
May I be allowed to say Mr. Deepak that you are agitating your same very query time and again.
An answer was given to you here in before which remains intact.
Once it is a joint a/c with direction either or survivor without allocation of any share it would be 50ty 50ty.
The survivor would be able to operate the a/c but would be accountable to the heirs' of the deceased .
However the bank can not refuse operation of the a/c by the survivor.
Why seeking ruling?or a case law?
Suppose I and you are holding a joint a/c.I die.Then you can operate bank can not stop you from operating the a/c.But are you not accountable to my heirs for my share of money?
Can you say "no"?If not then no precedent required.
If you say "yes" and also find a precedent then that is a sad affair for me.
