Nominee to a bank account

4. Also the Fixed Deposit has a Nominee as "Son". Does the daughter can claim for her share or not on the same.

Kindly look into the attachments. RBI and IBA has issued following guidelines for deceased depositor:

In case where the deceased depositor had not made any nomination or for the accounts other than those styled as

"either or survivor" (such as single or jointly operated accounts), we will adopt a simplified procedure for repayment to

legal heir(s) of the depositor keeping in view the imperative need to avoid inconvenience and undue hardship to the common person.

Keeping in view our risk management systems, we will fix a minimum threshold limit, for the balance in the account of the deceased

depositors, up to which claims in respect of the deceased depositors could be settled without insisting on production of

any documentation other than a letter of indemnity.

CMD Bank of India has issued statement based on RBI/IBA guidelines on standing instructions on payment from one a/c to another maintained in same branch.

These can be seen at:

https://www.bankofindia.com/citizenschar2.aspx

Nominee is representative of the legal heirs.Nominee has to distribute the share of each legal heirs to them.

You may find the attachment useful.

The rules are clear in case of a/c with nomination and without nomination.

Daughter can stake claim for her share.

Thanks for the Update...Please let me know any more useful information is there if incase there is any... :)

Thanks,

Kunal

Team,

What can be done in the below mentioned issue:

3. The wife has made 2 properties in Appartments/Socities during her life time for which the share was alloted to her and the Nominee for 1 property is her husband and for the 2nd property is her husband and son.

Here my Question on point 3 is does the daughter can claim her share in the property or not. We have asked the daughter as well to get the formalities complete and get the property transfered on the name of nominees but the daughter has refused the same by saying that "Mom came into her dream and said that it should not be done otherwise everything will be finished and problem will occur in the family".

Please let us know how we can goahead and get the property transfered on the name of Nominee and which is the correct way where in the Daughter should not stand ahead and cannot claim for her right on those property.