Normally, nominees are bound to transfer assets to the legal heirs1 min read . Updated: 09 Dec 2020, 07:15 AM IST
A nominee is only a caretaker of the assets who will hold the asset as a trustee and will be legally bound to transfer it to the legal heirs
My brother passed away in March 2016 leaving me, one brother and sister as legal heirs. It came to our knowledge that my brother had nominated the REC (Rural Electrification Corp. Ltd) Capital Gains Bonds (from proceeds of selling his property) to third parties, without our knowledge. The bonds matured in 2019. As legal heirs to enforce our rights, what is the line of action we should take against these third parties? Also, if my sister is not interested in a legal case, can I proceed singly against these third parties by taking her NOC?
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