Distribution of balance from bank account after death of one of the account holders
This query is : Resolved
Arpita Sen
(Querist)
14 December 2024
Can a bank take the responsibility of distributing the money by demand drafts to all the legal heirs from an account where the first holder has expired and there is a joint holder, who is one of the legal heirs.
CA R SEETHARAMAN
(Expert)
14 December 2024
Bank will not take such responsibility.
As the account is joint account only the joint holder can only distribute.
As the account is joint account only the joint holder can only distribute.
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