Legal Question in Banking Law in Pakistan
A joint account of mother and daughter is being maintained in a commercial bank with the instructions to the bank that "ANY ONE CAN OPERATE". Now the mother has died and the bank is not allowing daughter to operate on the account and asking for Court's Succession Certificate informing that account is now deceased account. Is the bank is rightly demanding court's succession certificate and not allowing the surviving joint account holder (daughter) to operate the account?
2 Answers from Attorneys
Yes in my opinion... It is morally, legally and religiously wrong to withdraw cash after the death of a person. Succession gives right to legal heirs of deceased and if withdrawal is not made in his/her lifetime then the amount is subjected to division among legal heirs. For more consult me at [email protected]
Regards,
question is how bank got knowledge of deceased death,
now once it is on bank's record, legally it is subject to determination of legal heirs of deceased to the extent her share as agreed or determined and consent of those legal heirs.
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