One more question regarding nomination
i thank you very much for your reply to my earlier letter. i suspect some foul play by the nominee. in such case whether the legal heirs can stop making the payment to the nominee by just giving a letter to the bank. nominee is clever cunning and a cheat.
please guide me.
Asked in Family Law from Mandya, Karnataka
Yes the legal heirs can give a letter to the bank to stop making the payment to the nominee and take acknowledgement from the bank.
bank will refuse to pay on receipt of letter objecting to release of payment. it will insist on nominee obtaining succession certificate
1. Send the said letter to the Bank but the Nominee can claim release of fund from the account,
2. For claiming moveable property like money deposited with Bank, one has to submit the Siccession Certificate not the legal heir certificate,
3. Apply for the Succession cwCertificate and sumbit copy of the application to the Bank with a request not to release the fund to nany one else.