Legal Question in Civil Rights Law in India

difference between nominee and survivor from legal point of view.

I would like to know the difference between a nominee and a survivor from legal point of view.what are the after effects if a person has been named as a nominee in transactions such as bank a/c or in share portfolio and also if a person is named as a survivor in the same dealings as mentioned above. Thanks!


Asked on 12/02/08, 12:00 am

3 Answers from Attorneys
Nasir Butt Nasir Law Associates

Re: difference between nominee and survivor from legal point of view.

Reply of Mr. Sudershan Goel is correct.

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Answered on 12/03/08, 7:53 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: difference between nominee and survivor from legal point of view.

Nominee has only right to receive the property of the original owner; in the event of death of the original owner, the nominee is required to deliver the property to the legal heirs of the deceased.

The "survivor" is like a partner in the money deposited with the Bank and is entitled to withdraw the money if one of the account holders dies.

However, legal position of the survivor may be no better than that of the nominee if a question arises about apportionment of money on the death of one of the account-holders. The survivor may need to account for the money to all legal heirs as per their share.

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Answered on 12/02/08, 9:44 am
Homi Maratha N.N. Maratha & Co.-Advocates

Re: difference between nominee and survivor from legal point of view.

Already replied.

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Answered on 12/19/08, 2:42 am


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