Nominee

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 May 2011 Dear Sir,

I need to know the following:
1. Should a husband nominate only his wife (who is employed)for his bank a/c's, FD, PPF, LIC, property or can he also nominate his mother?or can he not nominate his wife and instead nominate his mother for the same?
2. Can a wife claim right only on assets of husband or is she also responsible for his loans?

Kindly help me sir...

U S Sharma

U S Sharma (Expert)

30 May 2011 usually wife is bonafide nominee of all assets earned by husband and saved by husband alongwith their childrens.

for assets which husband got from ancesters, then wife and the children of husband/wife is deedmed owner in absence of husband.

However husband is free to nominate any other family member, in place of wife for his LIC, and bank accounts, and he can make will for his properties in favor of anybody else, but it may get challanaged if wife is alive.

Loans are integral part of assets, but the purpose of loans must be recognized with assets, if such loans are availed for benefit of others than family members then she can deny to take responsibility of it.

for more details on this you have to visit any civil lawyer of your place with details.

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