look news india
Today, crores of people in India have bank accounts in which lakhs and crores of rupees are deposited. People's money is safe in the bank. However, it has been seen many times that the bank account holder dies. In such a situation, the question arises that if a bank account holder dies, then who gets the money deposited in the bank? Let's know.
Bank Account
Whenever a bank account is opened, many details are sought from the person opening the bank account. One of these details is also that of the nominee. Under nominee, the name of the person is given who will inherit the amount deposited in that bank account after the death of the bank account holder.
Nominee Details
In such a situation, people need to enter the nominee details while opening a bank account. Often people put the name of their family members as nominee. In such a situation, after the death of the bank account holder, the amount deposited in the bank goes to the nominee of that bank account. But, what will happen if the nominee details are not entered while opening a bank account?
Bank account details
On the other hand, if the nominee details are not registered in the bank account and the bank account holder dies, then his legal heirs will receive the account. To transfer the account, the heir has to submit legal documents like death certificate and proof of legal heirs. The main rule of nominee after death is that the nominee gets access to the account only after the death of the account holder.
Legal Owner
The nominee will not become the legal owner of the account while the account holder is alive. If there is no nominee in the bank account after death, the account holder may face difficulty in transferring money. There may be legal disputes or delays in transferring the account to the legal heirs.