Nominee Rights: When can the nominee made in the property take share in the property; Understand the rights of a nominee

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. Personal Finance Nominee Rights: When can the nominee made in the property take share in the property; Understand the rights of a nominee By Shyamu Maurya April 8, 2025 0 1 Share Facebook Twitter Pinterest WhatsApp Telegram Nominee Rights: When can the nominee made in the property take share in the property; Understand the rights of a nominee Nominee Rights: Be it property, a scheme or a bank account, you have to make someone a nominee. Usually people think that in the absence of a person, his nominee is the one entitled to his property or money.



But this is not the case at all. The nominee is like the guardian of the property. His job is to hand over the property to the legal heirs.

Sometimes the nominee can also be a shareholder in the property. But this depends on different situations. Let us tell you what is the difference between a nominee and heirs.

In which situations a nominee can be entitled to the property and in which situations he cannot. First understand what a nominee is When you make someone a nominee in a property or investment scheme, he is its guardian. The job of the nominee is to hand over the property to the legal heirs, not to keep it himself.

After your death, the nominee gets the right to claim the money of that property or any policy. But just by becoming a nominee, he does not get the ownership rights. Who are the successors The successor is actually the one whose name is written in the legal will by the actual owner of the property or who has the right over the property according to the inheritance law.

After the death of the owner of a property or money, the nominee does take out the money of the deceased person, but he does not have the right to keep this amount. He has to hand over this amount to the successors. When is the nominee also entitled to the property If the nominee is one of the heirs, then he is entitled to get a share of the property or money distribution.

Meaning, if you make one of your 4 sons a nominee, then out of the 4 parts of your property, 1 part will also go to that nominee because that nominee is also the heir. If the nominee is not the heir himself..

. Anyone can be made a nominee such as a family member, child, husband/wife, relative or friend etc. But if a person is a nominee but not a legal heir, then he cannot directly participate in the property.

If you want that the nominee is not your successor, but he should get the ownership of the entire property after your death, then it is necessary to clearly mention his name in your will. Who are considered successors? The list of heirs is divided into Class-1 and Class-2. Class-1 heirs have the first right to get your property.

This money should be divided equally among them. But if none of the Class-1 heirs is alive, then it is divided among Class-2 heirs. Class-1 heirs include son, daughter, widow, mother etc.

and Class-2 heirs include father, son and daughter’s children (grandchildren), brother, sister, brother and sister’s children etc. Tags Nominee Rights Share Facebook Twitter Pinterest WhatsApp Telegram Previous article 8th Pay Commission: Pensioners retiring before January 1, 2026 will not get the benefit of 8th Pay Commission? Details here Shyamu Maurya Shyamu has done Degree in Fine Arts and has knowledge about bollywood industry. He started writing in 2018.

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