Ram and Sita are a married couple with two sons, Mohan and Shyam. Ram had a joint demat account with Sita. Unfortunately, Ram passed away without a will. The bank transferred the contents of the demat account to Sita. Mohan claims that according to the Hindu Succession Act, he’s a legal heir and deserves a share of the demat account. Is Mohan legally entitled to: 1. Nothing, as Sita is the joint account holder? 2. One-third of the account? 3. One-sixth of the account, since Sita owned half the account?

Apni Law
Apni Law
Law Forum › Category: Documentation › Ram and Sita are a married couple with two sons, Mohan and Shyam. Ram had a joint demat account with Sita. Unfortunately, Ram passed away without a will. The bank transferred the contents of the demat account to Sita. Mohan claims that according to the Hindu Succession Act, he’s a legal heir and deserves a share of the demat account. Is Mohan legally entitled to:

1. Nothing, as Sita is the joint account holder?
2. One-third of the account?
3. One-sixth of the account, since Sita owned half the account?

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Apni Law Staff asked 2 years ago

Ram and Sita are a married couple with two sons, Mohan and Shyam. Ram had a joint demat account with Sita. Unfortunately, Ram passed away without a will. The bank transferred the contents of the demat account to Sita. Mohan claims that according to the Hindu Succession Act, he’s a legal heir and deserves a share of the demat account. Is Mohan legally entitled to:

1. Nothing, as Sita is the joint account holder?
2. One-third of the account?
3. One-sixth of the account, since Sita owned half the account?

1 Answers
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Best Answer

Apni Law Staff answered 2 years ago

Mohan is legally entitled to a share of the demat account. Under the Hindu Succession Act, Ram’s sons, including Mohan, are legal heirs. Sita inherits half of the account as a joint holder, and the remaining half is divided equally between the sons, giving Mohan a one-sixth share.

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