Fd without nomination

sir what is prorata share? and how to go with this option? succession case is one year or may be longer ?

also sir, maximum people suggested that my Mother is the whole and sole owner of every single penny of father. no child of her can claim for anything. whether the will is there or not Wife should get all.

can we ask bank to give equal share to all? and who so ever not signing keep theri share safe with bank?

in case of succession certificate case again that brother will not participate. Do we have to take rounds of court for succession certificate?

Legal heirs are entitled to equal shares, unless they decide in favour of one particular person by mutual settlement agreement.

The brother (unwilling) wants you all to sign Disclaimer in his favor so that Bank pays total funds in deceased depositor a/c to him.

Thereafter as aniticipated by you, he may not share at all with all legal heirs.

RBI has issued guidelines on settlement of Deceased Depositor a/c that banks keep on websites alongwith Bank's policy on it.

GO thru:

RBI Master Circular on Customer Services; Sec: 20

https://www.rbi.org.in/scriptts/BS_ViewMasCirculardetails.aspx?id=9862

Apparently the funds in a/c are within threshold limits and Bank has  simpliefied the procedure.

Meet higher officials and explain your problem.

Affirm to submit legal heir certificate, Indemnity,surety etc...........

thank you sir Kumar Doab ji. We have written application regarding it along with notrified deseased form given by them.

form is filled completely mentioning names of all living legal heirs and signed by three and unsigned by one unwilling.

waiting for reply. otherwise as u told we wil approach higher authority.

somewhere its bank fault also as FD is of substantial amount. for more than 1 lakh only nomination is mandatory. this FD is of quiet a big amount. I dont know why bank did not tell father to put nominee. We are going to request for Manual form( which father might have filled while taking FD)  checking also. May be in that father has written nominee. And by mistake bank officials and not entered in system.

its of  more than 30 lakhs. How SBI accepted father's FD without nominee. we r shocked?

Mr. Arun,

Bank is not obliged to ask a depositor to make or not to make a nomination. The bank can only guide the depositor by explaining the advantages of nomination facility. That all depends upon the sweet will of the depositor to make or not the nomination in favour of anyone, as the application form for FD, itself contains provision of nomination, which often is left blank by the depositor, either due to his ignorance or due to his undeciseness at the time of opening of account. Under no circumstances, a bank can refuse to open an account solely on the ground that the person opening the account refused to nominate.

Not only that the depositor can make nomination any time later also. Normally the nears and dears of the depositor advise the depositor to make nomination. So, you cannot the bank responsible on the issue of nomination. That is voluntary on the part of the depositor. Nobody can compel him to make a nomination.

sir , finally bank told for succession certificate. Now do we need to hire a lawyer and take rounds of court?  

You have posted that: “SBI tells in our case now all legal heir have to sign papers. But one of the sibling does not want to sign any document related with FD. Bank is insisting signature of all legal heir compulsory. Amicable settlement was not possible at all as that sibling is quarellsom……………………………… Some people suggested that as mother has all rights frst then children come……………………… my Mother is the whole and sole owner of every single penny of father. no child of her can claim for anything. whether the will is there or not Wife should get all……………………………….. but our headache is that that sibling is not coming in front and inking his sign. he told he wants whole otherwise he wont sign. anyhow he is also class 1 legal heir.”

Review it.

The estranged son/sibling does not want to give up his chances (for equal share or whole) by signing in favor of Mother or equal share of each one to each one.

You seem to want to press him to sign disclaimer in favor of mother.

Why the estranges son wants whole: the correct reason is known to you, alone. 

The dispute if comes into knowledge of bank and banker they shall be alert.

The funds in deceased depositor a/c are apparently, above threshold limit.

Still bank is willing to help with simplified procedure.

However your family has your own family issues.

The dispuste has probably come into notice of the bank.

Hence the demand/decision of ‘Succession Certificate’, by bank.

You have been made aware that ClassI legal heirs have equal share in estate(s) of deceased father.

One Prespective: Involve elders of the family, influnecial community person that can convince the estranged son to sign and convince that upon receipt of funds the mother shall pay the equal share to him. This is if disclaimer is signed. If required any neutral person may suggest keeping cheque of equal share (favoring estranged son with him/her as surety or some kind of Jamaanat).

Another Prespective: Convince the bank to disburse equals share to all and estranged son may agree to sign, knowing that bank shall pay equal share of each one, to each one.

If nothing is possible try by getting legal heir certificate/affidavit and agreeing to offer submitting indemnity, surety etc etc and as thought by you that bank may keep the estranged son’s share with it or dispatching it thru bank staff to him. However, the chances of Bank deviating from set procedure are less.

First try your level best to strike some repproachment with estranged son and bank.

If nothing is possible, bank has already updated you to get Succession Certificate.