WebOct 25, 2004 · Ruma Pal, J.— Leave granted. 2. This appeal raises the issue whether a fixed deposit jointly owned with an “either or survivor” clause can be pledged by one of … Webaccounts with either or survivor clause. sr. no. documents to be submitted; 1. ... for claims other than nomination / joint accounts with survivor clause.(in the absence of succession certificate, probate or letter of administration) if the amount of claim is not above rs. 25,000/-
The problem with survivorship clauses LawSkills
Web1 hour ago · Or if your spouse or ex-spouse has died, you may qualify for a survivor benefit, which can be as high as 100% of their Social Security benefit. Just to be clear, though: From Social Security’s ... WebJun 16, 2011 · Either or Survivor This is the most common type of joint account and is applicable between any two individuals. For example, if a husband and wife have a joint account with 'either or survivor' clause, either of them can operate the account and in the case of the death of one of the depositors, the other can continue or the final balance in … farrington elementary school in lithonia ga
RBI directive on‘survivor’ clause - The Hindu BusinessLine
WebThe Supreme Court has ruled that a fixed deposit jointly owned with an 'either or survivor' clause could not be pledged by one of the account holders with a bank. The bank cannot adjust the amount of fixed deposit against such a pledge without the authority of the other account holder. In this case, a couple made a joint fixed deposit. WebAccount operated by “either or survivor ... Banks may consider incorporating a clause to the following effect in the account opening form/application form establishing the contract of term deposit: ‘The Bank may, on receipt of a written application from Shri ——————– the former/the latter/the first name the second name, etc. of ... WebOct 25, 2024 · An “either or survivor” clause in such an account means that the amount payable by the Bank on maturity of the fixed deposit may be paid to either of the account holders by the Bank in order to obtain a valid discharge. In other words under a tripartite agreement between the joint account holders inter se and the Bank, the Bank may, on ... free teacher samples by mail