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June 2009

Nominee is not sole heir of property : Bombay HC

By Raman Jokhakar, Tarunkumar Singhal, Chartered Accountants
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  1. Nominee is not sole heir of property : Bombay HC

A nominee of a property in a housing society does not
automatically become the absoluteowner of the property after the death of the
original owner, the Bombay High Court has ruled in an important order.
Delivering the verdict Justice A P Deshpande said it would be the personal law
of an individual that would determine the successor to the property and not
the nomination under the Cooperative Societies Act. “The Maharashtra
Cooperative Societies Act (MCSA) does not provide for a special rule of
succession altering the rule of succession laid down under the personal law,”
the Judge said, citing two earlier judgments. The Court held that a nominee
did not become the ‘absolute owner’ and was empowered only to hold the
“property in trust for the real owners, that too for the purpose of dealings
with the society”.

(Source : The Times of India, dated 06.05.2009)

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