Hi Nomination gives a person the right to receive, but not necessarily the right to own the asset permanently. Nomination is governed by sectoral laws such as: Section 39 of the Insurance Act, 1938 (for insurance policies), Companies Act, 2013 (for shares/securities), Banking Regulation Act (for banRead more
Hi
Nomination gives a person the right to receive, but not necessarily the right to own the asset permanently.
Nomination is governed by sectoral laws such as:
-
Section 39 of the Insurance Act, 1938 (for insurance policies),
-
Companies Act, 2013 (for shares/securities),
-
Banking Regulation Act (for bank accounts),
-
EPF Act (for PF/Gratuity),
-
Co-operative Societies Acts (for housing societies).
Nomination only authorizes a nominee to receive the asset upon the death of the holder — not to inherit it.
The Supreme Court in Sarbati Devi v. Usha Devi (1984) held:
“A nominee is only a trustee of the asset, not the owner. Legal heirs or persons mentioned in the Will will inherit the asset.”
This means:
Nominee = temporary custodian
Legal heir under Will = ultimate owner
So, Always mention the details of the property in the will even though nomination is made.
See less
Yes, a share in the property of a Hindu Undivided Family (HUF) can be bequeathed under a Will, but this depends on whether the person has an independent right over the share at the time of death. Let's understand this with proper legal context, sections, and examples under Hindu Succession Act, 1956Read more
Yes, a share in the property of a Hindu Undivided Family (HUF) can be bequeathed under a Will, but this depends on whether the person has an independent right over the share at the time of death. Let’s understand this with proper legal context, sections, and examples under Hindu Succession Act, 1956, and the Indian Succession Act, 1925.
Legal Position: Can HUF Property Share Be Bequeathed via Will?
1. No Individual Ownership in Undivided HUF Property
In a running HUF, no coparcener (member) has a fixed or identifiable share unless a partition has taken place.Therefore, during the existence of an HUF, a coparcener cannot WILL a specific portion of HUF property.
2. Exception: After Partition or Death of Coparcener
If:
The HUF is partitioned (even notional), or
The person dies (and thereby his share in HUF becomes clear),
Then the deceased coparcener’s share can be bequeathed through a Will.
Legal Provisions Involved
Supreme Court’s Clarification
In Gurunath Radhakrishna vs. Raghunath Radhakrishna (2011), the Court held that:
“A coparcener can dispose of his undivided share in HUF property by Will, subject to his share being ascertainable.”
See less