Legal Question in Banking Law in India
Deceased bank accounts
How can a deceased bank accounts be closed if there is no joint owners and if bank requires probate papers from the court to close the account.
4 Answers from Attorneys
Re: Deceased bank accounts
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Re: Deceased bank accounts
it is not clear whether the Bank is in India or outside India. In the case of Indian Banks, there is procedure for settlement of claims to deceased account holder's funds. If the account is outside,better consult the Bank procedures and a local lawyer
Re: Deceased bank accounts
Application is made to the Surrogate of the county in which the decedent resided at the time of death for letters of administration. Once an administrator has been qualified and letters have issued, the money may be withdrawn from the bank account and debts paid and distribution made in accordance with law. If there is no will, the administrator will probably have to post a bond to secure the faithful performance of duties.
See also: http://info.corbettlaw.net/lawguru.htm
Re: Deceased bank accounts
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