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Successors versus nominees: property rights

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Successors versus nominees: property rights

Last updated: July 30 2019
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  • Successors versus nominees: property rights

    What right do the nominee or the successor have in a property?
  • #2

    #2

    Re : Successors versus nominees: property rights

    Well, the most important question would be whether the rights of nominees prevail over those of successors, in respect of various subjects of nomination, such as financial instruments, shares in a cooperative society, etc. This is a question that has been put to the test test time and again before various courts in many legal cases.
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    • #3

      #3

      Re : Successors versus nominees: property rights

      Malvish right. Well, these kind of cases mostly crop up upon the death of an owner when the nominee and the successor fight for the rights of the property. The legal standing of the court needs to be looked into for such cases. I think there was one I read about some time back, about a judgement made by the Bombay High Court, that set a precedent.

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      • #4

        #4

        Re : Successors versus nominees: property rights

        The Bombay High Court had upheld the rights of successors over nominees stating the fact that nominees are appointed, to ensure that the subject matter of the nomination is protected, until the legal heirs or legal representatives of the deceased take appropriate steps, such as obtaining probate of the will of the deceased or letters of administration of the estate of the deceased, to claim their rights over it.

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