• I am joint account holder in someone aged person account

I am Ashish.I was added joint account holder in bank by my teacher. My teacher have no family,unmarried.I care him for last one year and he died now.As he made joint account holder in his account.can I withdraw amount from that account after his death or will is necessary as before making will he died. But added me joint account holder in his savings account.
Asked 2 months ago in Criminal Law
Religion: Hindu

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19 Answers

You can withdraw the amount. No Will required. However, if you intend to withdraw the whole amount and close that account, you need to make an application and also enclose death certificate of the deceased joint account holder 

Netra Mohanchandra Pant
Advocate, Navi Mumbai
1388 Answers
5 Consultations

4.4 on 5.0

There is no legal restriction for you to withdraw the amount being a joint account holder. Please retain his death certificate for KYC update and submit the same at the earliest possible to the Bank. This will also protect you from any future questions raised from any corner.

Aniruddha Chakraborty
Advocate, Bangalore
34 Answers

5.0 on 5.0

- A joint account is a type of bank account that allows more than one person to own and manage it.

- Further , there is no restriction regarding who can be an owner, which can include spouses, friends and business partners, among others.

- Further , everyone named on the account has equal access to funds, regardless of who deposited the money.

- Hence , as you are joint holder of the said account , then after his death you can use that account , specially in the absence of his legal heirs, and it not need a WILL of the deceased. 

Mohammed Shahzad
Advocate, Delhi
5910 Answers
60 Consultations

5.0 on 5.0

1. You are the joint holder of the said account with him.

 

2. You were and also are entitled to operate the said joint account including withdrawal of money therefrom.

Krishna Kishore Ganguly
Advocate, Kolkata
25047 Answers
722 Consultations

5.0 on 5.0

Hello,

  1. As a joint account holder you have all the legitimate right to make withdrawal from the account or having access to the funds therein.
  2. If the deceased teacher is survived by any heirs like his mother or siblings,they have a right in the funds in the account as he has not made a Will. However, nothing stops you from having access to the funds in the joint account.

S J Mathew
Advocate, Mumbai
3114 Answers
125 Consultations

5.0 on 5.0

Inform bank of demise of account holder 

 

2) enclose his death certificate 

 

3) if he has any siblings his share of money lying in bank account would devolve on them 

Ajay Sethi
Advocate, Mumbai
80471 Answers
4927 Consultations

5.0 on 5.0

Your teacher added your name on his own accord 

 

furnish details of teacher bank account 

 

you cannot hide information from police 

Ajay Sethi
Advocate, Mumbai
80471 Answers
4927 Consultations

5.0 on 5.0

Here hiding of information makes many troubles in future recent life. A joint account holder has every right to withdraw the money if the operation of withdrawal specifically mention that either of the joint account holders can withdraw the money. If the deceased Teacher has legal heirs and the teacher did not create a will then her legal heirs can also be entitled to the same.

If you withdraw whole amount soon make suspicion on police 

 

Ajay N S
Advocate, Ernakulam
3710 Answers
76 Consultations

5.0 on 5.0

You would not face legal problems if during teacher lifetime any funds were withdrawn from said bank account by the teacher 

Ajay Sethi
Advocate, Mumbai
80471 Answers
4927 Consultations

5.0 on 5.0

Hello,

  1. Technically,the bank cannot object to your right to withdraw and as you are the joint account holder you have every right to make withdrawals.
  2. However as someone has complained you need to be very careful as you can be suspected to be the cause behind the death of the joint account holder por for having for having access to the funds in the account.
  3. Incase the police freezes the account, you have the option to approach the court to get access to it as the sole joint account holder.
  4. In the mean time it is advisable to find out if the deceased has any legal Heirs and if they are behind the complaint to the police.

S J Mathew
Advocate, Mumbai
3114 Answers
125 Consultations

5.0 on 5.0

Dear Sir,

It is suggested that you are suggested not to worry and take the shelter of the court if some fishy done by the police or any other person. Have the proof as much as possible with you and you have the rights to use that amount. 

Ganesh Singh
Advocate, New Delhi
6568 Answers
13 Consultations

4.5 on 5.0

1. How sis police came to know that you have joint account with him since ordinarily you arfe not expected to know his bank account details?

 

2. It appears that you have not detailed all the facts to giver you proper suggestion.

 

3. It appears that there has been some accusation against you in connection with the demise of your teacher.

 

4. If Post Mortem report suggests his natural death then you have nothing to worry about.

 

5. Police can file FIR in connection with his death (if the death is unnatural) and ask the Court to seize the said accounts.

 

6. You can take out all the amount left in the said account of your late teacher and inform the account no. to the police.

Krishna Kishore Ganguly
Advocate, Kolkata
25047 Answers
722 Consultations

5.0 on 5.0

1. Withdrawing money from the joint account is not a crime for the police to send you to jail.

 

2. The important fact that the death of the teacher should   be  normal.

 

3. Withdraw the amount as suggested.

 

4. It might be that police wants a share of the said money illegally for which they are harassing you.

 

 

Krishna Kishore Ganguly
Advocate, Kolkata
25047 Answers
722 Consultations

5.0 on 5.0

If you are not a culprit in the death of a person then why you worry about with drawl of money . Sudden withdrawal soon after the death or soon before the death made a suspicious eye on you. If you are a joint account holder but never forget about that who put the money in bank for who's benefit. 

Ajay N S
Advocate, Ernakulam
3710 Answers
76 Consultations

5.0 on 5.0

- Since you was declared joint holder during the life time of that teacher , hence police cannot lodge any complaint against you. 

Mohammed Shahzad
Advocate, Delhi
5910 Answers
60 Consultations

5.0 on 5.0

Since you ae a joint account holder you can operate the account in your own capacity.

You can issue a letter to the bank intimating the death of the other joint account holder and convert the joint account to a single holder operated account also.

 

T Kalaiselvan
Advocate, Vellore
70524 Answers
985 Consultations

5.0 on 5.0

The police will be investigating the issue based on the complaint received by them.

If you have not done any crime then you do not have to be worried on this count.

If the police suspects any foul play in the death of the other account holder then it may issue instructions to the bank to freeze the account till the investigations ae completed and further instructions are given by the police.

You cannot do anything about it other than to cooperate with the police.

If you start showing your urgency or try to do any other act which may provoke the police then you may land in trouble, hence you better remain silent and cooperate with the police so that you will get a quicker remedy or relief in this connection.

 

T Kalaiselvan
Advocate, Vellore
70524 Answers
985 Consultations

5.0 on 5.0

Legally speaking, you can operate the account in your individual capacity because the account  type is 'either or survivor' basis. 

However if you show your urgency to withdraw the money from the account at this stage where the police have already started investigation, the police may suspect you and may even give instructions to freeze the bank account.

Therefore do not invite trouble for you by indulging in any hasty action.

 

 

T Kalaiselvan
Advocate, Vellore
70524 Answers
985 Consultations

5.0 on 5.0

You can withdraw money from the bank account. Withdrawing money from the account cannot be the sole ground to frame charges by police unless there is anything unnatural revealed in the post-mortem report. If there is anything irregular in the post mortem report then police can file suo motu FIR and start an investigation. In that event, the police will look into all possible angles. If you are sure of the cause of death as natural and you were made an account holder at will by the deceased person, I do not think you should have anything to worry about.

However, as I had advised earlier, update the Bank that the other owner is deceased with support of the death certificate and update the KYC with the bank. It is the responsibility of the joint account holder to update the bank timely of such statuses.

Aniruddha Chakraborty
Advocate, Bangalore
34 Answers

5.0 on 5.0

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