Can i delay partition of father's FD's to safeguard brother?
My father expired in 2009. We are 2 brothers. Our mother is also dead. My father had some fixed deposits in banks. In few of them i was the nominee and in some no one was named as nominee. Now my cousin brother is influencing my real brother to take his share from the FD's and give it to him. Is there anyway i can safeguard him by not giving him money?
In the FD in which you are a nominee, you will get full share but in case of FD’s where there is no nominee, you will have to apply for succession certificate and thereafter apply for FD.
Since there is no nominee nor a Will, the FD will devolve equally among all legal heir .
You can make representation to bank, not to release the FD without your consent as you are also the legal heir of you dec was d father.
If he unilaterally approches the bank, then they will not allow him to withdraw FD without your consent.
Advocate Sandeep HegdeRajajinagar, Bangalore
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