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NiTin GuPta   11 June 2020

what legal docs /actions required?

Dear all

My aunt (Buaji-90 age) and i had a joint account (jointly operated) and nominee is my son.

My question is whether after my aunt's death ,can anyone(in laws of my aunt or my brothers) challenge the money left in bank account in court .

My aunt has no son/daughter.


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 8 Replies

G.L.N. Prasad (Retired employee.)     12 June 2020

In case of one among the joint holder's death, the amount automatically goes in the name of living person and immediately makes operation Either or Survivor.

Nominee steps in only when both joint holders expire.

Members in the forum can not assure/guarantee as to whether can anyone (in-laws of your aunt or brothers) challenge the money left in the bank account in Court.

If you have such suspicions, you have to take prior adequate precautions like getting registered gift deed or getting bank account through the process of will, etc.

A local advocate can help.in getting a draft of such will or gift deed.

There is no difficulty in getting the money in the bank through EOS and it is automatic after submitting DC of one amount joint holders in case of EOS. 

The question is further challenges from others which should be avoided in case of such doubts by taking adequate precautions well in advance.

1 Like

P. Venu (Advocate)     12 June 2020

Who are the legal heirs to your Buaji?

1 Like

NiTin GuPta   12 June 2020

@ GLN prasad ji thanks for your advice.
yes we have suspicious persons who can take undue advantage after my aunt's death. can you help me exactly what documents will be required for that ? and what if i do not get those docs what will be the consequences?

G.L.N. Prasad (Retired employee.)     12 June 2020

Please read the reply-- The following is being reproduced for favour of your information

If you have such suspicions, you have to take prior adequate precautions like getting registered gift deed or getting bank account through the process of will, etc. A local advocate can help.in getting a draft of such will or gift deed. (duly registered)

 

NiTin GuPta   12 June 2020

sir could you pls explain -There is no difficulty in getting the money in the bank through EOS and it is automatic after submitting DC of one amount joint holders in case of EOS. 

G.L.N. Prasad (Retired employee.)     12 June 2020

Yes. If there is an account in the name of A & B with an EOS clause, in case of death of any of A or B, the surviving depositor is entitled for the amount simply on the production of a letter with original death certificate.

If you want you can even file RTI Application to any Public Sector Bank or Reserve Bank of India DBOD and seek information by enclosing Rs.10/- postal order fvg bank. as follows:

Information solicited:

1. Please provide me a certified copy of rules and regulations that are applicable to "EITHER OR SURVIVOR ' Clause in operations in deposit accounts.

You can also search in google and find it out with keywords and you can also find such previous judgments.  Keywords: Either or Survivor clause in operating banking accounts."

 

1 Like

Dr J C Vashista (Advocate)     13 June 2020

Where and what is the type account i.e., any Bank, Post office, demat, Revenue department, Society or any other organisation.in the form of saving, fixed etc. etc.? 

EOS can operate. 

G.L.N. Prasad (Retired employee.)     13 June 2020

Why the Bank account was in court, in a joint account?  What is the precise fact: "of the money left in bank account in court"
 


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