Legal Question in Civil Rights Law in India

nominee or survivor
one of my friend's husband died recently having shares in top companies and also having accounts in many banks. My friend has completed the formalities in transferring all the shares and bank accounts in her name, but at this moment the doubt in her mind is , in some cases she has been asked for giving the name of nominee and in some cases she has been asked for giving the name of the survivor. The question is what should she do in such a situation? Another question is, if after giving names as nominee and also as survivor,if she makes a will, then what would be the effect of it- will the shares and bank balance will be distributed according to the will or will the nominees and the survivors would become the owner of the shares and the bank balance allocated to them? My friend has four daughters as legal heirs. She wants her property to be distributed equally among her four daughters after her demise. I request to please answer these questions in detail. Thankyou!

Asked on 12/04/08, 10:36 pm

Homi Maratha N.N. Maratha & Co.-Advocates

0 users found helpful

0 attorneys agreed

Re: nominee or survivor

Already replied.

Answered on 12/17/08, 6:45 am

Sudershan Goel India Law Offices of Sudershan Goel - Advocate

0 users found helpful

0 attorneys agreed

Re: nominee or survivor

She need not to do anything.

If she does not do anything, her four daughters will automatically inherit equally whatever is left.

naming of anyone as nominee or survivor is not related with inheritance.

Answered on 12/04/08, 10:43 pm

Keywords

Match Any Match All

Country

State

Area of Law