Legal Question in Banking Law in Pakistan
In case of death of a joint account holder, can other one / surviving joint account holder can operate the account and withdraw entire balance standing to the credit of account?
Asked on 11/02/12, 8:44 pm
1 Answer from Attorneys
when a person dies, immediately the legal heirs( declared by the court) steps into deceased shoes for all actions regarding the moveable and immoveable property belonged to the deceased. in your case it is not known in what capacity and under what understanding or contract the account was jointly maintained and operated. you must wait until a court's decision arrived after a due process in this regard.
Answered on 11/04/12, 12:36 pm
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