Every property or an amount of money is owned by a person who sometimes selects a nominee, a caretaker to be precise to take care of these valuables but a nominee is not the owner. So if you ask, is a nominee a legal heir? Then the answer is No. A nominee is just a mere custodian of the valuable property but the actual heir is the one whose name has been mentioned in the document.The main difference between Nominee and Legal heirNominees and legal heirs are totally different. A nominee can receive the property if his or her name is there in the document but if it is not, the property will pass to the legal heir and the nominee cannot do anything about it. As per the will or succession law, a property goes to the heir and not a nominee unless the latter's name is mentioned in the wil or some official document.Can a Nominee sell the property?People often think the nominee has the right to sell a property but No. A nominee cannot sell a property without the consent of the legal heir or heirs. The parents, spouse and children are the legal heirs after the death of the owner and only they have the right to sell a property.If you still feel you need some legal guidance, opt for NoBroker Legal Assistance and solve your queriesI hope now you know is nominee a legal heir or not.Read More:Can Nominee Withdraw Money From Bank?Who Can Be Nominee In Bank Account?What Is Nominee In Bank?
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Is Nominee a Legal Heir?
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April 10, 2022
2022-04-10T23:29:21+00:00 2022-04-10T23:29:22+00:00Comment
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