Nominee Issue
in bank if nominee name is other than legal heirs and nominee has taken all money can legal heirs recover than amount from nominee. Nominee is nephew of deceased and legal heirs are wife son and daughter living separately
Free Legal Advice - banking financial
Posted by: Manu Vashisht
Posted on: 2020-12-08
Dear Sir, Nominee is only recognized as “Trustee” and he has to get the amount and immediately pass on to the eligible legal heirs of the deceased. Nominee cannot claim any right over such money unless there is any other document in his favour.
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