Liquidating bank holdings in england
Aaron Smothers
(Querist) 23 March 2012
This query is : Resolved
Hello,
I have the case of a deceased Indian national with a bank holding in England (denominated in US$). He died intestate, with no children, with wife/widow and parents surviving.
According to Indian law, the wife and mother each get 50% of the estate.
My questions pertain to liquidating the bank account in England.
Does England apply "lex domicilii" or "lex situs" in this case?
Can anyone speak from experience with a similar scenario (the deceased and the inheritors are in India; money is in England)?
Do I need anything from an Indian court? Or an English court? Or both?
All comments appreciated. Thanks!
Aaron
Shonee Kapoor
(Expert) 23 March 2012
Only English court can decide the same.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Aaron Smothers
(Querist) 24 March 2012
Thank you Mr. Kapoor.
Let me ask a more specific question:
Assuming that the bank in England will require a probate/letter of administration from an English court, my question is:
will the court in England require us to furnish a Succession Certificate from an Indian court?
The basis for my question is the belief (please correct me if I am wrong here) that in the case of foreign nationals, English laws apply "lex domicilii" to movable properties (for intestate succession).
Thanks!
Shonee Kapoor
(Expert) 28 March 2012
Yes, if you could produce a succession letter from India and it is not challanged by anyone, then it would be acceptable in England for probate.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
Shonee Kapoor
(Expert) 28 March 2012
Sorry, not probate, it would allow the assets to be liquidated as per the Indian Succession Certificate.
However, they might ask for some bond to be filled for any outstandings on the deceased.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
