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Yogesh Patil (Engineer)     24 October 2010

Nomination On Fixed Deposit

Dear SIr,

My Father opened Fixed Deposite in a local bank and nominated my elder sister as nominee since I was not in India during that period. Wherein unfortunately my father passed away few months back and now my sister and her husband have withdrawn that amount.

Please let me know how can fight on this topic with them leagaly? please let me know IPC ref for the same if possible

Regards,

Yogesh



Learning

 5 Replies

V. VASUDEVAN (LEGAL COUNSEL)     24 October 2010

Nomination only authorise the nominee on behalf of the legal heirs of the original holder, the due proceeds of the fixed deposit. If you father died leaving a will in respect of the properties, the properties left by him including the fixed deposit proceeds will be distributed amongst the legatees as per his mandate in the will. In case he died intestate i.e. without leaving will, the property including the fixed deposit will be governed by the sucession law (Hindu Succession Act), in the instant case. Hence you may ask for your due share and try to settle the matter amicably. Otherwise can file a suit for your share and it is preferable not to resort to IPC for family issues.

vasudevan

Parthasarathi Loganathan (Advocate)     31 October 2010

Bank discharges its liability only by payment of proceeds to the nominee. You can file a case against the nominee to establish your stake over the proceeds.

SACHIN AGARWAL (ADVOCATE)     08 November 2010

Your sister was entitled to receive money from the Bank being the Nominee but she is also liable to distribute the same amongst the legal heirs.

 

Since youyr sister has not given you your due share in teh said money, you can claim the same by filing a suit.

raj kumar ji (LAW STUDENT )     09 November 2010

DEAR PATIL ,

                    IF UR FATHER INVEST A FIXED DEPOSIT OR THIS IS HIS PROPERTY THEN HE WISH TO NOMINEE HIS DAUGHTER MEAN HE WANT TO PAY TO THIS MONEY TO HIS DAUGHTER WHY SHOULD U CLAIM THIS MONEY U WISH THAT SHE IS UR SISTER YAAR .

Shiv Kumar Sharma (Lerner)     23 April 2014

DEAR RAJKUMAR JI THIS IS A LEGAL FORUM AND NOT A FORUM TO DISCUSS MORROL DUTIES, LEGAL POSITION IS VERY CLEAR AS ALREADY DEFINED BY LEARNED PARTICIPANTS, NOMINEE IS ONLY A TRUSTEE OR SAY RECIPAN

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