1) what is the nature of investments ?

2) Section 45ZA(2)(Banking Regulation Act) merely put the nominee in the shoes of the depositor after his death and clothes him with the exclusive right to receive the money lying in the account.It gives him all the rights of the depositors so far as the depositors’s account is concerned. But it by no stretch of imagination make the nominee the owner of the money lying in the account,”

3) if no nominations are made bank may insist on obtaining succession certificate from court

1) flat has to be transferred in name of legal heirs . namely , your sister .your elder sister husband and children would inherit her share of the flat

2) obtain letters of administration from court

3) then after flat is transferred in name of legal heirs you can sell the flat

1. You being their legal heirs can claim the money and sell that flat.

2. However some banks may require proof of your status and hence it is better to apply for Succession Certificate which makes it easy to claim her liquidated assets.

The succession certificate is conclusive proof of your heir-ship of your parents on which basis you sell their immovable properties as well.

If your both the parents are no more, then the intestate properties on their names will devolve on all their legal heirs. If apart from you both the sisters and and the class I legal heirs of your deceased sister, there are no one else as legal heirs, then the properties especially the immovable properties shall be divided into three parts, by you both getting one such equal share and the third one will go to the legal heirs of your deceased sister.

As far as the movable properties, i.e. FDs and akalaces, wherever there is a nominee, the amount will be credited to the nominee's account and if here is no nomination then all the legal heirs have to furnish indemnity bond as well as legal heirship certificate to claim the money jointly or on any individual's name by other heirs giving NOC in favor of one such heir.

1) you and your siblings would be legal heirs

2) each legal heir would have one third share

3) your predecessor one third share would devolve on her husband and children

4) as mentioned earlier nominee is only a trustree for legal heirs

Your mother's Class I legal heirs are her children, children of predeceased children, husband.

If there is no nomination, obtain a legal heirship certificate and all legal heirs are to jointly apply for the claim and to give an indemnity bond too jointly or to submit a succession certificate from a court of law. This answer applies to second question too.

For obtaining legal heirship certificate one has to apply with the jurisdictional revenue department/tahsildar giving the details of all legal heirs and obtain it after verification by the authorities.

1. Where no nomination has been made a Succession Certificate is required to realise her funds.

2. To sell the house owned by your father get it mutated in favour of all the legal heirs. The share of your elder sister has devolved on her husband and children. As a corollary thereto, the legal heirs of your father and the legal heirs of your deceased sister shall have to sign the sale deed. If the legal heirs of your deceased sister do not agree to sell the house then you may file for partition to cull out your share in the property and then sell it after division is made by the court.

3. The legal heirs of your mother are all her children.

1. You shall have to obtain succession certificate for claiming the amount of your mother where no nominee was mentioned where the name of he demised sister has been mentioned,

2. Please also note that nominees are the trustees but not the legatees or the owner of he fund for which they were nominated.

1. In case of inheriting immovable properties, legal heir certificate is required,

2. Collect legal heir certificate from your local counselor and jointly execute and register a sale deed in favour of the buyer.

1. Was your demised sister married?

2. If not then the said property will be inherited by the remaining two heirs of your father,

3. Act as advised in my earlier post for selling the property.

1. Where there is no nominee or nominee expired, succession certificate will be required for claiming the fund kept with the Bank,

2. Apply for succession certificate in case of moveable properties and collect legal heir certificate for the immovable properties of your father/mother.