oppn parties Nomination, Title, Wills & Succession

News Snippets

  • Flipkart assures employees that there will be no job or salary cuts due to the COVID-19 pandemic
  • Although it was obvious, but the government still clarifies that there is no need to switch off appliances and only lights need to be switched off on April 5 at 9pm after confusion in the minds of some people
  • PM Modi and President Trump decide "to deploy full strength of (Indo-US) partnership" to fight against COVID-19
  • 17 states have reported 1023 cases of coronavirus linked to the Tablighi Jamaat, which translates to 30% of all positive cases in India
  • The government says people should not use alcohol-based hand sanitizers before lighting diyas or candles on April 5
  • The railways say there is no certainty yet when services will resume after the lockdown and a final decision will be taken in the next few days
  • As coronavirus cases multiply in Assam, six north-east states seal their borders with the state
  • Power System Operation Corporation Ltd. (POCOSO) putting all systems and protocols in place at war-footing to ensure there is no grid failure due to reduction in demand on April 5 at 9 pm
  • Power ministry scotches rumours that the power grid might fail due to the 9-minute blackout called by PM Modi on Sunday, April 5
  • Centre asks people to wear home-made masks if it is absolutely essential for them to step out of homes
  • Centre asks states to allow licensed street vendors to sell essential items
  • 8000 samples were tested across India on April 2, but the government said that testing will be need-based and will not be used as a confidence-boosting measure
  • Air India operating special flights to fly passengers stuck in India since the lockdown
  • For the first time in history, Darjeeling loses first flush tea due to suspension of garden work for Covid-19 outbreak
  • Supreme Court asks journalists to be responsible and publish only the official version of news after it was brought to its notice that migrant exodus started after the 'fake' news that the lockdown will be extended to three months
Total count stands ar 3082 as India records 16 Covid-19 deaths, the highest in a single day
oppn parties
Nomination, Title, Wills & Succession

By Sunil Garodia
First publised on 2016-07-04 13:23:40

About the Author

Sunil Garodia Editor-in-Chief of indiacommentary.com. Current Affairs analyst and political commentator. Writes for a number of publications.
For a layman, nominating someone to receive funds from any financial asset after one’s death normally means that one has assigned the title of that asset to the nominee. But that is not the legal position. In India, as in common law from which British and hence Indian laws were derived, a nominee is held to be a trustee and not a legatee. Hence, he is supposed to hold the proceeds as a trustee and such proceeds are to be divided among all legal heirs of the deceased as per will or as per succession certificate if the person dies intestate.

This position was reiterated by the Supreme Court in the recent case Indrani Wahi V. Registrar of Cooperative Society and Ors. A deceased father had nominated his married daughter to be made member of the cooperative housing society after his death and be the nominee of his flat there. The apex court, as also the high court before it, clearly stated that mere nomination did not devolve the title of the property to the nominee. While the nominee was entitled to possession of the flat, she could not dispose it off without the express permission of other legal heirs of the deceased.

Hence, when someone wants to devolve title of his assets to his heirs, succession planning is essential. Expert legal advice should be availed of and assets should be demarcated to preferred legal heirs accordingly. If someone else, other than to whom title is to devolve, is nominated in a particular asset the nomination should be changed to avoid complications. It is the duty of everyone to arrange his affairs in such a way as to make his legal heirs split his property in the way he or she intends, without any legal complications.

In India regressive social thinking prevents persons from making a will. This gives rise to legal complications and fighting among heirs that could have been avoided if there was a will. Though awareness and changing social mores mean that more and more people are now making wills, it is something that should be made mandatory for persons over 60 years of age. To avoid costly legal fees, such wills should be in a standardized format and digitalization should be made compulsory. There should be depository, on the lines of NSDL and CDSL that keep record of dematerialized shares, where such wills could be kept. There are many issues relating to the functioning of this system, but that can be addressed by the law commission or even a special committee set up for it. But it is something that deserves to be looked into.