Money withdrawn from post office accounts
Tamal123Kol
(Querist) 26 November 2013
This query is : Resolved
Hello Experts,
I'm in process to submit documents to Court for Succession Certificate. It includes some of the P.O. Accounts.
It came to light that the opposite party closed all the accounts in P.O. by withdrawing all the money (opposite party was holding either joint a/c or nominee).
Can we still go ahead with applying for succession certificate & re-claim the money ? What should be the right approach ?
Thanks.
Devajyoti Barman
(Expert) 27 November 2013
Distrcit Delegate court would not let you recover money. Proceed with this case if it involves other moveable assets,
malipeddi jaggarao
(Expert) 27 November 2013
If it is a joint account with operating instructions "Either or Survivor", you have no case. If the person who has drawn the money is a "nominee", he can not withdraw the amounts. Instead he could request the PO to pay the amounts to him and PO is right in paying the amounts to nominee. However, nominee can not become true owner of the funds. He is only a trusty to the amount and all the legal heirs of the deceased have their rightful claim in the funds and it is the duty of nominee to see that the funds are distributed to the legal heirs as per their share permitted in accordance with the law.
You can apply for succession certificate. However keep in your mind the above listed provisions.
Rajendra K Goyal
(Expert) 27 November 2013
Well advised by the experts, nothing more to add.
T. Kalaiselvan, Advocate
(Expert) 27 November 2013
If you want to apply for succession certificate through a court, first ascertain that for what purpose you want this certificate, i.e., whether for any particular purpose or for general purpose? You may have to pay court fee accordingly. Further, if the post office account was a joint account it may be as either or survivor basis and in case of nomination, the nominee would have withdrawn the money In any case you cannot claim the same from post office as a legal heir or as a successor because the post office has already discharged its liabilities.
