Can my sister challenge, if i take all father's money as i am nominee?
My father expired 6 to 7 months back. In 90% bank accounts I am a nominee. My sisters have the papers of all banks. We are not sure if there is a Will because the locker is yet to be operated.
Should I claim the whole amount where I am the nominee or should I get into an agreement with my sisters? If I claim the amount where I am a nominee, can my sisters challenge it later?
The amount is around 60 lakhs in movable assets. How do we proceed?
You and your sisters have an equal share in your father’s property as per the Hindu Succession Act, in case he died intestate (without will).
Now, if you claim the entire amount as you are the nominee, then you sisters can challenge the same in the Court of law and you should be liable to pay the amount of their share to them. As a nominee, you hold the property in trust for all the legal heirs and you are merely custodian of the same.
You need to first check whether there is a Will. In case there is no Will, then you should enter into a settlement with your sisters dividing the property or else you can file a suit for partition in case you can’t reach a settlement.
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