Nominee Rights In India

Summary

In India, nominees in bank accounts are considered trustees for the legal heirs, not absolute owners of the funds. This means that while the nominee can access the funds, they are obligated to distribute them according to the legal heirs rights. Legal heirs can claim their rightful share through succession laws. For specific judgments from the Supreme Court or High Courts, it is advisable to consult a lawyer who can provide detailed case law and guidance based on the jurisdiction of Gujarat.

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Surat
In India, the Supreme Court and various High Courts have ruled on the rights of nominees in bank accounts. Generally:
- A nominee holds the amount in trust for legal heirs and does not become the absolute owner.
- Legal heirs can claim their share through succession.
For precise judgments, consult a lawyer.
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