Hi.. My uncle died recently. He was an Insurance agent. He has nominated his second wife for all receivables like group insurance, hereditary commission, pension etc. in his insurance agency documents in the year 2013. His first wife died in the year 1994, but she was the nominee in records till 2013. He is having 3 daughters from his first wife & 3 from second wife. Along with his second wife, he has done all his parental duties of 3 daughters from his first wife. All are married. Now the problem is, His second wife applied for receivables from insurance company being a valid nominee. For which daughters from his first wife have issued a stay order under 370 of the Indian Succession Act - Under section 372 from 'Prl, Civil Judge & JMFC court'. My Question is : 1. Is Indian Succession Act denies the rights of valid nominee. 2. Is there any method to vacate the stay in shorter period. Please suggest, Thank You
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Hi, as per law Nominee will not entitled to claim 100% of the claim amount the legal heirs of the deceased also entitled for claim equal share in the amount.
2. So legal heirs are also entitled to claim their share in the amount.
3. If you want to vacate the stay then you have to file application before the court for vacating the stay.
Sir, Thank you for quick reply. Any provision for quick decision by court, as the family of his second wife has no livelihood. All daughters are studying in school. Can we go for higher court for the decision. And stay served by them is only related to his receivables from insurance company only. Deceased person is having ancestral property. in which all will get equal share. will it make any favor to second wife & her kids.
Hi, as per all the legal heirs have equal rights over the properties of the decease either it is movables or immovables.
1) nominee is only trustee for
legal heirs
2) on husband demise his wife , children from first and second wife have equal share in his assets
3) in other words second wife has only one seventh share in his property
4) provisions of India succession act over ride nomination
1) even if you file appeal stay would not be vacated
2) it is better to reach an amicable settlement with other legal heirs
The nominee is entitled to realise the liquid assets in respect of which she has been nominated. If an order of injunction has been issued then she may challenge the order through an appeal. An appeal is maintainable against the order of temporary injunction.
The ancestral properties of the deceased have devolved through succession on the legal heirs of the deceased i,e his widow and biological children from both marriages.
1. Is Indian Succession Act denies the rights of valid nominee.
You should understand the law of nomination that a nominee under this provisions of law is just a trust to receive the claim amount on behalf of the legal heirs/successors in interest and disburse them equally.
There there is no legal infirmity in the daughters approaching court and getting stay on it till the disposal of the present case.
This is not denial or nominee's rights, but it is law of succession.
2. Is there any method to vacate the stay in shorter period.
You can challenge it in the same court on the basis of merits in your side.
Any provision for quick decision by court, as the family of his second wife has no livelihood
One has to undergo the court process accordingly.
All daughters are studying in school.
Can we go for higher court for the decision.
You can but it will get more delayed at that place too.
And stay served by them is only related to his receivables from insurance company only.
Law of succession operates.
Deceased person is having ancestral property. in which all will get equal share. will it make any favor to second wife & her kids.
No, that will not help this situation.