Oral will not registered
jaydeep
(Querist) 04 February 2017
This query is : Resolved
Sir my family friend mr. chary died on 18/01/2017 and was unmarried and he nominated me in all his property except one Bank FD and his brother give me NOC by way of Affidavit that he has no problem in nomination and i found his oral will not registered which is attached hereunder
point of doubt:-
1) Can i claim the Bank FD.
2) Is the oral will valid.
Kumar Doab
(Expert) 05 February 2017
NO attachment found.
In Experts section admin of LCI has not provided option to attach.
Kumar Doab
(Expert) 05 February 2017
It is believed that you mean to say by Oral WILL, and Unregistered WILL written Paper?
Is it!
H.M.Patnaik
(Expert) 05 February 2017
Pl. answer Expert query for proper reply.
Rajendra K Goyal
(Expert) 05 February 2017
Attachment not possible in this section.
You can get the proceeds of the deposits from Bank in which you are nominee.
If the will is not registered, but contains the essential ingredients of will, it is valid.
Kumar Doab
(Expert) 05 February 2017
The existence of the WILL is known to Bank, is known to Bank or not?
The nomination in Bank FD, society Flat/Property does not create a parallel route to succession.
The Bank can pay to nominee as per valid nomination and discharge its responsibility.
The nominee is a mere trustee and is under obligation to distribute the proceeds to Legal heirs ( as per applicable succession Laws).
If the WILL is valid then submit it to the authorities under whose jurisdiction estate mentioned in it falls, to act upon the WILL .
jaydeep
(Querist) 06 February 2017
Mr.kumar sir the deceased have account in 2 branches of same bank in one branch i am the nominee and in the 2nd branch no one is the nominee and he have the locker also might be the original copy of WILL is in the locker itself but the photo copy of his WILL which i found which is computer printed which contain 6 points and in every point my name is written and after that his signature. no witness sign it have.
Guest
(Expert) 06 February 2017
Nominee is Only an Responsibility to implement the Job of Distributing the Shares to the Legal Heirs and No Rights could be made.
Kumar Doab
(Expert) 06 February 2017
The WILL if not witnessed and signed by 2 witnesses should be invalid.
If WILL ( Original and in locker that is not seen by you) is valid and in knowledge of Bank then it can prevail upon nomination. And bank can follow rules as applicable to act upon the WILL.
Role and duty of Nominee has alrrady ben explained in a simple language by Mr. N.J.S.Rajkumar, in above post.
Rajendra K Goyal
(Expert) 06 February 2017
Will may not be legally acceptable in absence of signatures of the witness.
Bank can disburse / pay the balance to nominee in the accounts in which nomination exist.
For the Balance in account and locker, where no nomination exist, affidavit, indemnity, surety, application from all legal heirs, death certificate of deceased are basic requirement from the Bank to pay / release the balance / contents of locker.
If not sure regarding contents of the locker, all the legal heirs may request the Bank to open / break open the locker before independent witness and make the inventory of the contents with signatures of all and can proceed.
Rajendra K Goyal
(Expert) 06 February 2017
If unable to complete the formalities, may approach court for succession certificate.
If will (legally valid) available / found, may use the same.
jaydeep
(Querist) 09 February 2017
thankyou all for the guidance :-)
Kumar Doab
(Expert) 09 February 2017
You may carefully go thru;
RBI Master Circular on Customer Services; Clause 19 & 20 and others
Kumar Doab
(Expert) 09 February 2017
You are welcome.
Guest
(Expert) 09 February 2017
Mr. Jaydeep,
Description of your problem is quite hazy, as at first you raised the question whether you can claim FD in the absence of your nomination and thereafter presumed that the will might be in the locker! But nowhere you have stated that the copy of the will available with you speaks whether you will be entitled to the deposits, including the FD and the belongings of the locker.
By the way, what do you want to convey by the term "oral will," whose will, and on the basis of what?
To be frank, I am of the opinion that it is your academic query, which you tried to adapt to get response from the experts, but could not adapt properly to make some sense.
Dr J C Vashista
(Expert) 10 February 2017
A "Will" can be unregistered, which is to be proved/probated.
No such connotation as "Oral will" exist.
Kumar Doab
(Expert) 10 February 2017
In subsequent post you have posted that you believe (from photocopy) that a WILL exists.
It has already been posted implying that if photocopy of the WILL is copy of original WILL then it should not be valid since there are NO signatures of witnesses (on photocopy).
So the purported original WILL has to come out and see light of the day to act upon it.
If the original WILL does exits and is lying in locker, than get the locker opened.
For procedure and guidelines having statutory force; go thru RBI Master Circular (mentioned above) and Bank Rules framed in accordance with RBI Master Circular.
If WILL is not in knowledge of the bank it can fulfill its responsibility by paying to nominee as per valid nomination.
If there is NO nomination then it can fulfill its responsibility as per applicable rules. Once again refer to RBI Master Circular.
Needless to mention Nominee is mere trustee and has to supply the proceeds to Legal heirs.
