Legal Question in Family Law in India
Nominee
My grandfather has passed away. Me and my grandmother is nominee of a large amount of RBI Bond and I am the 1st nominee.
I would like to know that :
1. who would be getting money?
2. Is everyone in the family is entitled to share the money?
5 Answers from Attorneys
Re: Nominee
If the money from which the bonds were purchased was earned by your grandfather with his own efforts, then you'll get the money.
Re: Nominee
all the heirs are entitled to share equally. the nominees are only entitled to receive the money on behalf of all the legal heirs who are entitled to inheritance.
Re: Nominee
Nominee means : that person/s is appointed only to receive and collect money but thereafter his duty is to divide the same amongst the legally entitled heirs
Re: Nominee
If your gf has not made any will it will go to nominee as a trustee and then will be divided among legal heirs
Re: Nominee
As a Nominee you are entitled to receive the RBI Bonds but do not become its owner, just being its nominee.
Your only hold in trust for others.
All eligble persons may own it.
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