Sir nominee is just trustee on behalf of legal heirs so you will have equal claim over it.
Further to get the property you can please your father there is no other option if same is acquired by father.
Mutual Fund Nomination
Respected Sir/Madam, My younger brother has make him as nominee on the Mutual Fund Investment Of Father N Mother. Now what can I do? to avoid my termination as Nominee in every aspects related to Father N Mother Name Property and Investments and Proprietorship Firm Of Father. Now Father is going to make Will for him Firm to hand over to My Younger Brother, in this case what should I do. Please Looking for your valuable help to avoid spoil of my life.
Asked 5 years ago in Property Law
Religion: Hindu
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12 Answers
Sir,
From your description, it is clear that your father is still alive. It is up to your father to decided how and with whom he wants to distribute his "self earned property" (it shouldn't be ancestral property). Nomination in Mutual fund doesn't mean your younger brother becomes "Nominee" for other(self earned) properties of your father unless your father himself is ready to give him. Legally your father has every right to distribute his "self earned Property" to anyone he so desires. You can only challenge where the property is "ancestral".
Dear client,
Nominee has no special rights. His capacity rest upto receive benefits in his hand than receivables will distribute acc. To inheritence law.
And father is absolutly free to bequeath his self acquired property to any of his chice.
So nomination will not effect your rights but WILL after father demise.
Try to earn trust of father .
Nominee is only trustee for legal heirs
2) you would have equal share in said investment on your parents demise
3) father can execute will for property standing in his name in favour of younger brother
If the Father has acquired the property on HIS OWN efforts either through employment or business, he has the right to give to any body.
However, if the Father has acquired ancestor property from his father, the Grand Children have equal right in the ancestor property passed on to his Father by Grand Father.
Ok one thing is clear that the Will is meaning full in case of Self Earned property and not in case of ancestral property. Now what are my rights in his own proprietorship firm as a legal heir. And may I challenge to his will as a legal heir and in which point.
Asked 5 years ago
In case there is no will or it is not trmasferred in life you have equal share in the firm. If it is transferred in life then no right, further if the will Is not valid or made properly same can be challanged
During father lifetime you have no share in his firm
2) on father demise intestate you would have equal share in his property
3) you can file suit for partition to claim share in his assets
4)if beneficiaries apply for probate of will oppose grant of probate
Dear,
You can't challenge will if your father is execute will of his self earned property.
This is his choice.
No right in his life time and inheritance will take effect on his intestate death only.
The father has the absolute right on his self acquired property (movable and immovable).
You can not take any legal action to stake a claim on the same
After the death of the father, at the time of probation you may challenge the validity of the will.
The grounds to challenge the will are very limited.
Regards
sir,
As I have already mentioned in my previous reply that you do not have any right over your father's self earned property, be it Proprietorship firm, Mutual fund or any other property. Your father has all the rights to his self acquired property and can give it to any of his children as per his wish. You can not challenge your father's valid will, it is solely his right and decision.