I lost my father to covid-19. He left a fixed deposit (FD), in which my nephew-my brother’s minor son- is as a nominee. However, my mother is a nominee in his bank, pension and other accounts. My brother has refused to share the FD amount. I have the original FD document. As per the Hindu Family Act or any legal process, is there any way through which I or my mother can claim the share in that FD? Also, will it be possible for my brother to claim the FD amount without the original document?
– Name withheld on request
Enrollment is only a stop-gap arrangement. A nominee is a trustee who holds the decedent’s assets in a fiduciary capacity for the benefit of the decedent’s legal heir (in the event of the decedent’s death) or being a beneficiary under a will. In the present case, the Class 1 legal heirs of your father will be entitled to his property if he has not left a will. Accordingly, your mother, your brother, and you become entitled to an equal share in your father’s property. You or your mother can apply for a ‘Letter of Administration’ for the administration of your father’s property in a court of competent jurisdiction to hear testamentary matters. All the details of your father’s property have to be brought on record which can then be distributed among his legal heirs, his widow and children in equal proportion as per applicable Hindu laws.
Also, to answer your latter question regarding your brother claiming FD without original documents, please note that he cannot do so legally. However, to deny it, you can write to the bank where the FD is being maintained, inform it about the demise of the FD holder and further seek a ‘letter of administration’ by one of the legal heirs. An application has been made for The deceased and that no action shall be taken without prior notice to all the legal heirs of the deceased.
Aradhana Bhansali is a Partner at Rajni Associates.
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