Legal Question in Banking Law in Pakistan
In a joint account operated jointly by two partners, if one of them expired then how bank should deal this account.
Asked on 1/07/17, 8:43 am
2 Answers from Attorneys
Sher Baz Ali
Sameja, Mughal & Meo-The Law Firm
If Firm or ind.joint ac with joint operating instructions. Ac will be marked deceased and payment as per succession/court orders. Refer deed as well for firm ac.
If individuals joint with E/S instructions then survivor can operate n preferably close after one time payment.
Answered on 1/08/17, 12:24 am
Salman Khan
International Lawyer
It cannot operate further unless the partnership deed allows.. [email protected]
Regards,
www.internationallawyer.info
Answered on 1/09/17, 7:53 am
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