Legal Question in Banking Law in India
There are bank accounts belonging to my father . They have not been operated for 20 years . Father and mother both have expired . We three brothers are the legal hiers to the amount in those accounts and also as per will . Two of my brothers have also expired . The question is who can operate those accounts ? How ? What is to be done to get rights to operate those account and distribute those amounts in between me and legal heirs of my brother ?
2 Answers from Attorneys
you along with legal heirs of your brothers have to apply for succession certificate in respect of all the deposits and accounts.
You along with the heirs of your late brothers apply to the Bank to have the claim to the credit balance in the accounts settled on the basis of affidavit cum indemnity basis. If they do not agree, you along with the heirs of your brother get a Succession certificate from the competent court, after getting the details of account balances from the Bank. You have to produce the death certificates of your father and mother to the Bank, along with the other documents required by the Bank.
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