Nominee, real heir of the money in bank acc and fds?

Harvinder Singh (Querist) 09 June 2024 This query is : Resolved
My mother died on 21 April 2021 due to cancer. She had some money in her bank account which was converted into 3 FD's by her as we are three brothers.

Now my younger brother is a nominee on the bank account and the FDs.

I have confirmed that money was in my mother’s account after her death from bank.

Before my mother's death, I was the only Son who was living with for 3 year and taking care and not my other 2 brother's.

As per Law, Nominees can just operate the Bank account but not the real heir of the money. Real heirs are their three sons and my younger brother is refusing to give my share.

Need advice

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Quick Summary

When a parent passes away, a nominee on bank accounts and Fixed Deposits (FDs) typically holds the funds in trust for the legal heirs. In this case, the younger brother, named as nominee, is refusing to share the inherited money with his two brothers. While the nominee can operate the account, they are not the ultimate owner. The discussion advises that the siblings are entitled to their shares and suggests exploring options like a legal demand notice or consulting a local advocate, while noting that police intervention is unlikely for civil matters.

T. Kalaiselvan, Advocate (Expert) 09 June 2024
You can issue a legal demand notice to him to settle your rightful share out of the FD amount, failing to comply, you may file a suit for recovery of money due to you

Harvinder Singh (Querist) 09 June 2024
Amount is not to big that we goto court and waist time. Can we sort this matter by police complaint.

kavksatyanarayana (Expert) 09 June 2024
You are entitled for your share of FDs, you may file a suit in the court. Consult a local advocate.

SIVARAMAPRASAD KAPPAGANTU (Expert) 11 June 2024
Matter is Civil in nature.

Your younger brother received the amount as nominee which only makes him a Trustee of the amount so received.He has to share that amount with all legal heirs. If the amount is too small to bother why bother, after all he is your younger brother. Leave it or involve family elders and get the matter resolved amicably. Moving Court is unwise as it may involve much expenditure, effort and time making entire thing untenable by the time you finally win the case.

P. Venu (Expert) 11 June 2024
Police has no jurisdiction in a civil dispute.

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