Sibsankar Datta (Freelance) 19 June 2015

Death claim on the deceased bank holdings by class ii heirs

A male Hindu unmarried person dies intestate and leaves behind, one Brother and 2 sons of his eldest brother (eldest brother is dead)

As in the instant case, all the members are from class II , whether the surviving Brother will get 50% and his eldest brother's 2 sons will get 50% to divide among them equally.

Kindly Let me know whether:

-Bank will ask to submit claims against the deceased person's bank account and locker content, jointly from all three left behind legal heirs. OR

-Bank will accept the submission of the death Claim from the surviving brother alone, without insisting other two to join as legal heir.

Thanks & regards.

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2 Replies

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 20 June 2015

Indian Succession Act for moveable or immoveable properties. The said Act would apply in case in a family where a male or female person dies without making a will and leaves behind various classes of heirs and property such as either moveable or immoveable. The Indian Succession Act governs by the law relating to Hindus, Muslim, Christian, Parsi or a Jews. Our Law Associates dealing with the matters relating to Hindu Succession Act for the citizen of Hyderabad, Telangana. The said Act applies to Hindus, Jains, Sikhs and Buddhists.

SIVARAMAPRASAD KAPPAGANTU (Retired Manager) 20 June 2015

Banks have a very well defined procedure to be followed to settle death claims received from the legal heirs of account holder and/or locker holder. As per the procedure, the Legal Heirs have to necessarily submit: 1. Death Certificate 2. Succession Certificate 3. Claim form from all the persons mentioned in the succession certificate 4. Declarations from two persons known to the bank. Without these basic documents, claim settlement does not happen in Banks. Banks may seek further documents also to ensure that the claim is properly settled. In case, the deceased Depositor/Locker Holder had given a nomination, the amount shall be paid and/or locker contents shall be allowed to be removed by such Nominee, provided there are no counter claims from other Legal Heirs. Therefore, in the instant case, please verify with the Bank Officials whether there is a Nomination in favour of anybody and if so whether the Nominee claimed. Have a dialogue with the Bank Officials, collect the required formats in that bank and submit them as per their procedure.