there are 5 legal heirs of a deseased person, but the nomination of her bank money has been made on 1 person. can that 1 person take all the money of the deseased person or should it be shared amongst all the 5 legal heirs.
Asked on 3/14/10, 3:54 am
2 Answers from Attorneys
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
The nominee is a trustee for all other legal heirs and is required by law to distribute the money as per share of each person.
Answered on 3/14/10, 6:27 am
Nandita Haldipur
Haldipur Associates
nominee is only a trustee of the property
Answered on 3/15/10, 7:13 am
Related Questions & Answers
-
A person issued a cheque on Dec 1st, 2009. she died on Dec 9th, 2009. the cheque was... Asked 3/14/10, 3:43 am in India Banking Law
-
Sir, kindly clarify the following 1 ) X is a savings bank a/c holder in SBI issued a... Asked 3/11/10, 1:32 am in India Banking Law
-
In joint account like former or survivor who owns money after former died Asked 3/09/10, 9:46 am in India Banking Law
-
I had dropped a cheque to pay my credit card bill.I had overwritten the date without... Asked 3/09/10, 4:44 am in India Banking Law
-
How to face a lawsuit which is leading to arrest for loan taken not paid due to... Asked 3/08/10, 9:35 pm in India Banking Law
