The rights of a legal heir supersede the rights of a nominee1 min read . Updated: 07 Jul 2021, 01:58 AM IST
While the banks may decide to release the funds held in the various bank accounts to you (in your capacity as nominee of such bank accounts), you are merely entitled to hold such funds on behalf of the legal heir identified under the Will
My father and mother passed away after they came down with covid. My father had made a registered Will in 2015. According to that document, my nephew has been named the claimant of all his liquid assets. However, after 2015, my father declared me as his nominee in almost all his bank accounts. Under these circumstances, who is the rightful claimant of my father’s liquid assets, my nephew or myself?
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