My father, who has passed away, had bank deposits and investments in a financial institution. Will these be transferred to the nominee mentioned in the accounts? Does this legally constitute a gift to the nominee? I’m a Goan Hindu.

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Law Forum › Category: Property › My father, who has passed away, had bank deposits and investments in a financial institution. Will these be transferred to the nominee mentioned in the accounts? Does this legally constitute a gift to the nominee? I’m a Goan Hindu.
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Apni Law Staff asked 2 years ago

My father, who has passed away, had bank deposits and investments in a financial institution. Will these be transferred to the nominee mentioned in the accounts? Does this legally constitute a gift to the nominee? I’m a Goan Hindu.

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Apni Law Staff answered 2 years ago

Under Indian law, the nominee mentioned in your father’s bank accounts and financial investments will receive the funds. This is not considered a gift, but a legal process of transferring ownership based on the nomination. Goan Hindu law does not affect this process.

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