Asked in Banking
Hi, You will need a copy of the will or other verifiable proof of the amount he owed you, so it can be handled by the executor of his estate. If you are a legal heir of the deceased, you will need to obtain a succession certificate.
Where there is no nominee or the account is not joint, the legal heir may need to produce a copy of the WILL or there has to be a succession certificate in place. In case there is no claimant than the bank may transfer the account to a dormant account.
Since the amount so heavy Bank will require you to obtain a succession certificate. Because neither there is Will nor Nominee is appointed therein. Also consult the RBI Guidelines for more clarity. Please give me Rank Five and follow me after reviewing my resume and book a consultation for further discussion and explanation if required.
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