Legal Question in Banking Law in Pakistan
A & B are operating a joint account with special instructions EITHER OR SURVIVOR WILL OPERATE THE ACCOUNT. After the death of A, whether the account will be closed or B can operate the account forever?
Asked on 3/23/10, 10:25 am
1 Answer from Attorneys
if these instructions are specifically marked in the form and accepted by the bank then for option 1 , can continue to operate but in case of death of one out of the 2 then matter become bit complicated as the rights of legal heirs of the deceased are involved.
Answered on 3/24/10, 6:35 am
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