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NOMINEE LEGAL HEIR
Mother nominated son in her savings bank a/c, but both died, father faced long delay in getting funds; Consumer Commission orders Rs 10,000 compensationErnakulam, Kerala: Husband faced challenges and long delay in accessing late wife’s savings bank account as nominee died; Consumer commissi...- SBI debits Rs 19.9 lakh for late spouse’s loan, freezes salary account despite not part of the debt; High Court orders it to pay widow Rs 20.9 lakhAllahabad High Court has ordered SBI to refund Rs 19.9 lakh after the bank used a widow’s fixed deposit to recover her late husband’s perso...
- Did you change your EPF nomination after marriage? Time to act is now, as it becomes invalid if you don’tDid you realize that getting married may nullify your EPF nomination? This frequent oversight can lead to significant issues for your famil...
- Bank of India ordered to pay Rs 15,000 to Kerala man after delay in releasing deceased wife's savingsA Kerala consumer commission ordered Bank of India to pay compensation. The bank delayed releasing a deceased woman's savings to her elderl...
- Younger son gets compassionate govt job after father's death; HC cancels his appointment and rules that elder son should get priorityChhattisgarh High Court has cancelled a compassionate appointment given to a younger son after his father, a government employee, died in s...
- After my death, can my wife transfer our 2BHK to our son via gift deed without an NOC from our daughter?ET Wealth Reader's Query: I own a 2-BHK flat and my wife is a joint owner. We have two children, who are settled abroad. After my death, th...
- Sebi unveils simpler rules for mutual fund transmission claimsMutual fund unit transmission is now simpler for nominees and joint holders. Asset management companies will rely on the latest address wit...
- No nomination in mutual fund or demat account? Here’s how legal heirs can claim investmentsNot having a nominee in mutual funds or demat accounts doesn’t mean your investments are lost—but it can make access difficult for your fam...
- Nominee vs legal heir: Know who really inherits your moneyAs you embark on the journey of safeguarding your finances through insurance and bank accounts, appointing a nominee is a common practice. ...
- Sebi's tweak on capital gains simplifies securities transfer from nominee to legal heir. Check detailsSebi has simplified the process of transferring securities from nominees to legal heirs by introducing a standard reason code ‘TLH’. Effect...
- Nominee vs Legal Heir: Who gets insurance money after death? Here's what Indian law saysNominees are appointed to receive funds upon someone's death, but they do not get to become ultimate beneficiaries of the same. While succe...
- New SEBI rule: Revamped mutual fund and demat account nomination rules come into effect from today; things you need to knowSEBI nomination rules: Revamped nomination rules for mutual fund and demat account comes into effect from today i.e. March 1, 2025. These r...
- Public Provident Fund: How nominees, legal heirs can claim a PPF account on death of the subscriberPublic Provident Fund is a popular long-term savings scheme offering tax benefits and attractive interest rates. Here’s how nominees or leg...
- The cost of not making nomination in bank accountAdding nominee in your bank account and other financial assets saves a lot money and time when money has to be claimed later when a person ...
- How to pick the right nominee for life insurance, bank account, PPF, EPF, mutual funds, stocksWhile a nominee is only a custodian of your assets, choosing the right one can ensure that your legal heirs get their inheritance rightly a...
- Wrong nominee and right nominee for bank A/cs, FDs, mutual funds, financial assetsIt is known that one should nominate someone to receive the bank account money, fixed deposits, other financial assets after the death of a...
- Why nominee is not your legal heirRegrettably, the words 'nominee' and 'heir' are commonly understood to be synonymous. However, from a legal standpoint the two concepts are...
- Money tasks after death in family: What happens to life, health, motor insurance policies after death of policyholderLife, health and vehicle insurance each come with their own set of rules for how the insurance cover will be dealt with after the death of ...
- Is nomination enough to ensure inheritance of asset?In 2016, the Bombay High Court laid to rest the position of a nominee versus a legal heir in relation to the shares of an Indian company.
- Policy holders must draw up wills to skip legal wranglesA nominee of an insurance policy is only a trustee of the sum assured, not the sole claimant, so says insurance companies in both life and ...
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