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What are the rights of legal heirs on demat account of mother?
08-Mar-2023 (In Civil Law)
In 2004 my father in law had a demat account & had nominated my mother in law she subsequently nominated my husband & in 2006 January my husband became owner of the demat account after my mother in law passed away... now my sister in law has objections & has filed a court case.... I want to know weather my husband's ownership is valid or it may change after Bombay high courts judgement of nominee not being an owner
Dear Mam,
I have read your query, your husband was made a nominee by his mother but there was no bequest made in favour of your husband. Thus nomination doesn't override the law of succession. Your husband will be one of the legal heir but not the sole legal heir. There are many judgments to the said effect. Yes the bench of Justices, hhj Oka and hhj Sayed of Bombay high court has reiterated the same recently in December 2016.
I have read your query, your husband was made a nominee by his mother but there was no bequest made in favour of your husband. Thus nomination doesn't override the law of succession. Your husband will be one of the legal heir but not the sole legal heir. There are many judgments to the said effect. Yes the bench of Justices, hhj Oka and hhj Sayed of Bombay high court has reiterated the same recently in December 2016.
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Adv. Jenal Bharat Busa
Mumbai | 100+ Answers
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The beneficiary of the demat account holder is only a nominee and the benefits of the account shall be devolved as per the succession rights. Nominee do not becomes the absolute beneficiary of the demat account sans other legal heirs if any....
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Adv. Swapnil Harihar Patil
Mumbai | 25+ Answers
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dear sir /mad
aap ke pass father in law and mother in law and your husband ke nominat paper documant and filed a court case judgement kya hai court ka aar aap ke father in law ne will ki hai ki hahi sab paper see the all the paper than i will tell.
aap ke pass father in law and mother in law and your husband ke nominat paper documant and filed a court case judgement kya hai court ka aar aap ke father in law ne will ki hai ki hahi sab paper see the all the paper than i will tell.
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Adv. Ravishankar Vijay Mishra
Mumbai | 25+ Answers
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