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Krishanu Majumdar   02 June 2023

Legal Heir Nominee

Childless Person made nominee of his bank to his class 2 category 4 legal heir. Can class 2 category 2 legal heir claim it?


Learning

 16 Replies

Suhail suhail (LAWYER)     02 June 2023

So why would you object , if that is his own  money and he want to give to anyone he desieres why sould you be worried.

Krishanu Majumder (Accountant)     02 June 2023

I'm not worried. The deceased is my paternal uncle and the claimant is another brother of deceased. He didn’t want to give his share to that brorher so he made me nominee. But still I wanted to give him the share but he claimed the entire one. 

Real Soul.... (LEGAL)     02 June 2023

Why would you give him share, if he is not nominated . You have been declared by the dceased as nominee so you will get the money. 

Krishanu Majumder (Accountant)     02 June 2023

But as per law, nominee is juat a trustee. And there’s judgment also saying nominee has to pay the amount to his legal heir. So I confused since I'm also the lagal heir though category 4 of Class 2 and the claimant here is also legal heir falling under category 2 of class 2. 

Deepak Saxena   02 June 2023

Dear,

After looking your Case, Bank will discharge the money to the nominate person as customer declare you nominee in his account. if some cousin made objection in this regard they have to file case in the court and only court have power to stay this discharge. So as per my opinion you first make your claim to the bank on basis of nomination and with this file of suit of succession certificate in the court to get legal right of your paternal uncle.

 

1 Like

Krishanu Majumder (Accountant)     02 June 2023

So I need to get a succession certificate to fight against them?

Real Soul.... (LEGAL)     02 June 2023

Juat submit your calim for the amount in bank as legal nominee 

1 Like

T. Kalaiselvan, Advocate (Advocate)     02 June 2023

The bank has to disburse the claim amount in favour of the nominee, provided there's no restriction due to any rival claim.

The nominee however, has to distribute this amount to the legal heirs of the deceased because nominee is just a trustee to receive the money on behalf of the legal heirs.

1 Like

Dr. J C Vashista (Advocate )     03 June 2023

Yes, such person (class II heir) or anyone else can be appointed nominee.

N.K.Assumi (Advocate)     04 June 2023

Question is: Childless Person made nominee of his bank to his class 2 category 4 legal heir. Nominee or nominees can withdraw the amount from the bank and it has to be distributed according to the personal law of the party. Nominee is not the owner, and it is only a care taker, and nominee can be any person not necessarily a legal heir.

 

1 Like

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     04 June 2023

On the death of an account holder the bank will pay the amount to the nominee, whoever it is, on demand by him. If any other person has objection to the payment to the nominee, he must bring a court order restraining the bank from paying the amount. It is for the court to look into claims and counter claims and decide.

1 Like

Dr. J C Vashista (Advocate )     06 June 2023

I concur the opinion and advise of experts hereinabove.

Nominee (whosoever) cannot retain any money received from Bank. S/he has to distribute the amount received as per personal law of LRs of deceased accountholder.

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     07 June 2023

Cash unlike immovable property is volatile and negotiable. A receiver of cash do not have to bother about the title of the giver for the cash. It is not incumbent on the nominee to search for the legal heir.

1 Like

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     13 June 2023

A nominee is not legal heir. That is court judgement. Nominee is a trustee is just a conclusion drawn from the judgment. There is no law which says that a nominee is a trustee. A person can be appointed as a trustee only if he accepts the the position. A nominee is not  bound under any law to go in search of the legal heir. There are many laws containing provision for nominee. Judges have been intrepreting that a nominee is not beneficial owner. In the case of insurance law the section has been amended to state that if the nominee is one of the specified relatives, he will be the beneficial owner of the property. The specified relatives happen to be legal heirs under Succession Law.  It is high time that the law is amended in all other cases also. In the case of cash if the nominee is not a legal heir, he should hold it for a reasonable time. If no claimant comes forward within reasonable time, he can use the amount. In the case of immovable poperty, the nominee can do everything as though he is the owner, except that he cannot alienate the property irreversibly. In case he tries to sell the property, no prudent buyer would come forward to buy it.


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