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Nominee vs Legal heirs
2 years ago
Sir, My Grandfather died on 30December 2020. My uncle (chacha) was nominee of my grandfather's bank account and after death of my grandfather he withdraw all money from grandfather's fix deposit and didn't share with us... what should we do now and if we go to court how much time this case will take? Please suggest me.
Ankur Goel @ Complete Law Shield
Responded 2 years ago
A.file FIR for fraud and misappropriation of funds.
you can file court case also and it wont take long time.
you can file court case also and it wont take long time.
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Ayantika Mondal @ Prime Legal
Responded 2 years ago
A.Hi,
The nominees only hold the assets on behalf of the legal heirs of the deceased. They are not the beneficial owners of the fund. They have to transfer the money to the legal heirs.
If you like my answer, please rate me.
The nominees only hold the assets on behalf of the legal heirs of the deceased. They are not the beneficial owners of the fund. They have to transfer the money to the legal heirs.
If you like my answer, please rate me.
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A.Hi,
A nominee is a person appointed by the investor who is entitled to receive the proceeds of the investments made by the original investor upon his or her death. However, they are just caretakers of the assets and not owners.
According to Indian law, nominees have the right and duty to facilitate transactions in case of the unfortunate death of the legal owner of the asset. They will get the asset and keep it until they are legally bound to transfer it to the legal heirs of the original investor. The nominee will hold the money or assets only as a trustee until they transfer it to the legal heirs of the deceased.
If you like my answer, please rate me.
A nominee is a person appointed by the investor who is entitled to receive the proceeds of the investments made by the original investor upon his or her death. However, they are just caretakers of the assets and not owners.
According to Indian law, nominees have the right and duty to facilitate transactions in case of the unfortunate death of the legal owner of the asset. They will get the asset and keep it until they are legally bound to transfer it to the legal heirs of the original investor. The nominee will hold the money or assets only as a trustee until they transfer it to the legal heirs of the deceased.
If you like my answer, please rate me.
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