Legal Question in Banking Law in Pakistan
*** Can based on the Nomination given in bank's account opening Form that "in the event of bank's account holder death balance in the account can be received by any specific legal heir (Son or daughter) without his/her obtaining the Succession Certificate from the Court" will be legitimate and whether based on such nomination can bank release funds laying in the deceased's account to the nominee. It is heard that legally after death all the nominations stand null and void and for release of funds in legal heirs favour, Court's Succession Certificate will be required. Please give detailed reply.
Asked on 5/21/13, 9:58 am
1 Answer from Attorneys
Adnan Bashir
A B Choudry Law Firm
it is suggested that bank should direct him to get court's direction in any form..
Answered on 5/23/13, 5:10 am
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