On demise of friend his mother , wife and children would be legal heirs having equal share in property

2) bank would insist on succession certificate before making payment to the legal heirs

3) on friend demise his account would be frozen

4) you can transfer money due and payable by you to said account

You should wait until the time one of the Legal Heirs of your deceased friend obtains a Succession certificate. Once one of them gets a Succession certificate from Court, you can repay this debt you owe to your friend to him/her.

Bank does not permit withdrawal from bank account on receipt of intimiation of demise of account holfer

But deposits are permitted by the bank into the said account

Sir ,

Get clear statement for bank about the account activeness .

If active , transfer the funds..

Thank you

Please wait till the disputes are settled .... Or else you may end up paying twice .... Please contact me @ for further query

Sir please consult the respective bank manager whether you can transfer it or whether account is frozen. But legally you will have no problem if you transfer the amount to his bank account.

Hope my reply helps you.

Banks transfer is the proof that you got the money from your friend.

Until and unless bank notified via death certificate of the customer, the account still be active.

If at all bank notified about the death of the customer then the ownership of the account would be transferred to 'nominee' . The nominee would have all the access of the account in future. In case, if no nominee registered then the account would be closed and the accumulated money would be transferred to his successors ( according to succession certificate ).

Note - Even if the account is closed still the transaction record would be available with the branch any time.

It is absolute illegal from your side to try to know the information about the account whether it is active or frozen.

answering to the 4th question - you may hold the payment till you get status of the account.

You can discuss with me whatever may be your views.

You may before hand enquire with the bank the status of the account, the bank will tell you the status with the account number itself.

Regards

if the account has not been frozen then you may deposit the money into his account, otherwise as and when the same is claimed by his legal heir, you may transfer the money to them.

Regards

You cannot make any transfer to the account whose holder is reported to have died.

The deposit or transfer of funds to a dead person's account is not valid especially if you are aware that the account holder is died.

You can keep the money with you till the time the rivalry is settled among the legal heirs are settled, before that you may communicate to the legal heirs in writing that the said money belonging to the deceased has been kept in your custody and shall be disbursed at a later stage when the dispute is settled among themselves.

This would save you from legal hassles in the future.

you can transfer money due and payable by you to said account

Are you saying I can transfer the money to my friend's account, which might be frozen by this time.

Knowing that your friend is not living anymore, it is incorrect and illegal to transfer the amount to his account after his death.