• Payment of bank deposits to legal heirs

Mr Ramesh has died leaving Bank deposits without Nomination. His legalheirs obtained succession certificate from court favouring Mrs.Mangala wife of deceased, Mr.Ram ( son), Mr.Sham (son) and Ms.Pallavi ( married daughter). All could not claim deposits by giving combined application and KYC proofs to the Bank. Subsequently the Ms.Pallavi died as she was murdered. Now if remaining heirs that is mother, and two sons claim from bank, how the Bank will pay the deposits as the succession certificate consists her name. How the share of daughter can be given and whom it can be given. Can Bank retain the equal (1/4th) share for the purpose of legalheirs of Ms.Pallavi and release the 3/4th share to remaining or do they require to obtain another succession certificate from court which is time consuming and costly affair. How to pay the claim quickly. Kindly tell us wayout to solve the issue quickly.
Asked 6 years ago in Property Law
Religion: Hindu

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10 Answers

on Mrs pallavi death her share would devolve on her legal heirs

2) bank may insist on obtaining succession certificate of deceased daughter

Ajay Sethi
Advocate, Mumbai
94700 Answers
7528 Consultations

5.0 on 5.0

Sir, we would advise you to have a talk with the manager of the bank. It depends on the manager what he wants to release the money. You may get in touch with us for further clarifications

Abhishek Dutt
Advocate, Kolkata
31 Answers
1 Consultation

4.0 on 5.0

1. The grant of a succession certificate does not determine the title of the legal heirs of the deceased in respect of the debt or security for which the certificate was applied for.

2. It only affords protection to the debtor or bank in case it transfers the debt or security to the holder of the succession certificate.

3. In your case since there are 4 joint holders, the bank can pay and transfer the FD to any one joint holder.

4. The bank has no business to insist for a succession certificate in respect of Pallavi who is no more as the bank does not sit to adjudicate as to who is entitled or not for the security left by the deceased.

Yusuf Rampurawala
Advocate, Mumbai
7510 Answers
79 Consultations

5.0 on 5.0

The bank may be requested to retain1/4th share of the deceased share holder on hold and to disburse the shares of other share holders

There is no legal impediment by doing so.

The bank may be given a request enclosing a copy of her death certificate which bank will oblige and acknowledge.

T Kalaiselvan
Advocate, Vellore
84896 Answers
2192 Consultations

5.0 on 5.0

In this condition the money deposited in the bank account shall be distributed among the legal heirs, who were present at the time of death of the account holder.  in your case daughter (legal hairs of daughter) is entitled to get share however she is murdered because succession has opened at the time when your father died. Once the succession has opened all the legal heirs present at the time of opening shall get share in the property. In your case after death of the daughter, the legal hairs of daughter are entitled to get share in the property.

Shivendra Pratap Singh
Advocate, Lucknow
5127 Answers
78 Consultations

4.9 on 5.0

You can do the following:

1. You should get the death certificate of Mrs. Pallavi and get NOC from the legal heirs of Mrs. Pallavi if they have no claim. If they have claim they shall get her 1/4th share of the bank deposits. If they give the NOC then the bank money of her 1/4th share can be divided between Mrs.Mangala wife of deceased, Mr.Ram ( son), Mr.Sham (son).

2. You should get the deposits soon otherwise you can file a complaint to the manager for the delay in reimbursing the money;

Gowaal Padavi
Advocate, Mumbai
1920 Answers
5 Consultations

5.0 on 5.0


After death of Ms. Pallavi, her share is transferred to her legal heirs namely-

a. sons and daughters & the husband.

b. heirs of husband

c. mother & father

d. heirs of father

e. heirs of mother

Tarun Agarwal
Advocate, Jaipur
769 Answers
3 Consultations

4.9 on 5.0

Dear Client,

On the basis of succession certificate, any heir can approach the bank to collect fund. Court cannot deny, otherwise file contempt in court against bank.

Neither bank can retain her share except to hand over the money.

Pallavi share will devolve in her children and husband and if no children than property/money inherited from her father will devolve in her father`s heirs and not in husband.

Sec 16 Hindu Succession Act.

Approach bank for release of fund otherwise file contempt.

Yogendra Singh Rajawat
Advocate, Jaipur
22632 Answers
31 Consultations

4.4 on 5.0


You are suggested to approach the bank with death certificate of daughter.

Ganesh Singh
Advocate, New Delhi
6757 Answers
16 Consultations

4.5 on 5.0

The bank will pay to the legal heirs on the basis of Succession certificate. If any legal heir is dead or not mentioned in the succession certificate then such heir share will be distributed amongst other heir. But if that heir brings fresh succession certificate then he will be paid his share. Therefore during succession certificate all heirs apply together to avoid delay and latches

Prashant Nayak
Advocate, Mumbai
31935 Answers
179 Consultations

4.1 on 5.0

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