Joint ownership of bank account
2 years ago
My mother was mentioned as Joint account holder by her father in his savings account which is also linked to three deposits, Unfortunately her father passed away recently.She has a brother who stays outside India and was not on talking terms with his father .They are the only two legal heirs.She as joint account holder banks say can transfer all amount to herself. The question is "can her brother claim part of the amount"?
Ayantika Mondal @ Prime Legal
Responded 2 years ago
A.Hello
After the death of your mother's father your mother would be the owner of that bank account as it was in her name as well. Also she could contact the bank branch and transfer all the amount in her personal bank account. Also her brother cannot claim any amount.
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After the death of your mother's father your mother would be the owner of that bank account as it was in her name as well. Also she could contact the bank branch and transfer all the amount in her personal bank account. Also her brother cannot claim any amount.
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A.hello
If the father of your mother has left a will stating that there would be a share of his son as well in that case your mother have to share otherwise not. Also if he have not left any will then your mother is only surviving owner of that account.
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Please rate if you find this advice helpful.
If the father of your mother has left a will stating that there would be a share of his son as well in that case your mother have to share otherwise not. Also if he have not left any will then your mother is only surviving owner of that account.
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Advocate Sinjari Bandyopadhyaya
Responded 2 years ago
A.In case of joint accounts where one of the account-holders dies and has opted for the survivor clause, payment of the balance in the joint account to survivor shall be considered as valid discharge of the liability of the bank subject to identify the survivor being established, valid proof of the death of the account-holder is produced and also provided that a competent court has not issued a restraining order to the bank for not making the payment to the survivor from the joint account.
Therefore until and unless the brother asks the bank for stop payment due to any restraint Order from appropriate Court of Law,the Bank has full right to transfer the sum to the surviving joint account-holder.
Therefore until and unless the brother asks the bank for stop payment due to any restraint Order from appropriate Court of Law,the Bank has full right to transfer the sum to the surviving joint account-holder.
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