GIRISH RAO (supervisor) 18 May 2014
my paternal aunt and her husband had 4 term deposits in 2 banks. my aunt died in feb 2013 and my uncle in july 2013. they did not have any children. I and my mother are the nominees to the deposits. However my uncle's brother's daughter has claimed the deposits for herself saying that she is the legal heir. however, she does not have any documentary evidence to support her claim. can i claim the said deposits. my uncle's niece has the original receipts. kindly advise what to do
Kumar Doab (FIN) 18 May 2014
It is believed that deceased and you are Hindu and deceased has not left any WILL.
You may refer to RBI guidelines to banks that have statutory force and binding on banks and also Hindu Succession laws.
The BCSBI,IBA, bank has to maintain the guidelines on its website, in branch, and has to provide authenticated copy of printed version to customer/survivors/nominee(s) without any cost.
The Term Deposits were joint or single a/c?
>>> As per :
RBI / 2009-10 / 57
DBOD.No.Leg. BC.9 /09.07.006/2009-10 July 1, 2009
Master Circular on Customer Service
19. Nomination Facility
20. Settlement of claims in respect of deceased depositors – Simplification of procedure.
20.1.1. In the case of deposit accounts where the depositor had utilized the nomination facility and made a valid nomination or where the account was opened with the survivorship clause ("either or survivor", or "anyone or survivor", or "former or survivor" or "latter or survivor"), the payment of the balance in the deposit account to the survivor(s)/nominee of a deceased deposit account holder represents a valid discharge of the bank's liability provided :
(a) the bank has exercised due care and caution in establishing the identity of the survivor(s) / nominee and the fact of death of the account holder, through appropriate documentary evidence;
(b) there is no order from the competent court restraining the bank from making the payment from the account of the deceased; and
(c) it has been made clear to the survivor(s) / nominee that he would be receiving the payment from the bank as a trustee of the legal heirs of the deceased depositor, i.e., such payment to him shall not affect the right or claim which any person may have against the survivor(s) / nominee to whom the payment is made.
Hence if no injunction or order by competent court is served ob BM/bank/Banker you may immediately visit the bank with KYC docs of the Nominee(s) and stake claim for payment.
The drawback at your end is that you do not have original TDR’s.
The BM may obtain legal opinion in this case.
>>> Hindus Succession Laws:
The deceased depositor is your (and uncle's brother's daughter) Paternal Uncle i.e. Chaacha……………….
His wife is your (and uncle's brother's daughter) Paternal Aunt i.e. Chaachi……………….
----- Paternal Uncle : Out of ClassI legal relations of your Paternal Uncle i.e. Chaacha: If his Mother is alive she will be legal heir and shall get whole estate of the deceased.
If the mother is also not alive then ClassII relations shall come into picture:
Class II relations
---- Paternal Aunt;
This should be determined the funds invested by her were obtained from her parents or husband or were self earned.
The property of a female Hindu dying without WILL shall be distributed
- Firstly, upon the sons and daughters (including the children of any pre-deceased son or daughter) and the husband…..
Secondly, upon the heirs of the husband …..
Thirdly, upon the mother and father…
Fourthly, upon the heirs of the father…
Lastly, upon the heirs of the mother ….
-If the women has acquired any property from his Father or Mother, in that case the first right will be of the heirs of her father and not husband, in case of absence of his sons or daughters
-If the women has acquired any property from her Husband, in that case the first right will be of the heirs of her husband , in case of absence of his sons or daughters
>>> Apparently you, your mother, and your uncle's brother's daughter are all CLassII legal heirs and if no ClassI legal relations is present CLassII legal heir shall share the wealth equally.
If besides you, your mother, and your uncle's brother's daughter no other CLassII legal heir is present you all may amicably settle the matter.
Before you decide finally it shall be appropriate to consult a local lawyer well versed with heir ship matters of your personal faith (e.g. Hindu) and proceed under expert advice of your lawyer.
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