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Which should be given importaance

Guest (Querist) 24 May 2009 This query is : Resolved 
If a person has made nominee as his wife in bank Fd and if in his will he clearly states that his all Bank Fd should be transfered to his son.

Now who will apropriate toclaim for the Fd Amount?

(It is just illusionary question to clear my concept related to will and nomination)

Thanks in advance
Kiran Kumar (Expert) 24 May 2009
its a good query otherwise.

recently SC has held that a nominee is merely entitled to recieve the money on behalf of other legal heirs...thus a nominee does not have any right over the money to be recieved from the bank.

in ur case the assets will be allocated as according to the will only not according to the nomination.

i ll find the judgment also.
M. PIRAVI PERUMAL (Expert) 24 May 2009
WILL prevails over nominee.
adv. rajeev ( rajoo ) (Expert) 24 May 2009
I agree with kirankumar. Nominee is not entittled to the FD. Nominiee's duty is to only discharge the duties.
Swami Sadashiva Brahmendra Sar (Expert) 24 May 2009
Y V Vishweshwar Rao (Expert) 24 May 2009
I agree with lrd freinds

Nominee is under obligation to distribute amounts according to the Will Deed
Guest (Querist) 25 May 2009
Thanking you all for quick reply
Guest (Expert) 25 May 2009
Though there is a nomination provision, the banks insist for LHC (legal heirship certificate) and an affidavit from all the heirs authorising a particular person (heir) to receive the amount payable under the deceased accounts.

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