Legal Question in Wills and Trusts in India

Nominee entitlement

I have be asked to become a nominee for a family relative in India. What exactly does it mean? Will I also have to bear any of their unpaid loans at the time of their death? What is undertaken by a nominee. Do I have to bear any of their unpaid expenses?


Asked on 8/27/06, 7:54 am

2 Answers from Attorneys
Jayesh Desai Jayesh Desai

Re: Nominee entitlement

A nominee is like a trustee - he is supposed to handover the property to the legal heirs. Nominee will not have any personal liability unless a nominee misappropriates property.

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Answered on 8/31/06, 3:12 am
BANKIMCHANDRA SHAH ADVOCATE DIGVIJAYA CONSULTANCY SERVICES

Re: Nominee entitlement

Nominee is empowered to receive any amount invested and does not have to pay any unpaid amount. You can refer any document for which you have any doubt to a good lawyer who can guide you properly.

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Answered on 8/27/06, 10:34 pm


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