Post office account: Crores of people in the country have accounts in the post office i.e. post office. Many government schemes are associated with their accounts. When an account holder of the post office dies, his nominee gets the money deposited in savings schemes like Post Office Savings Account, Monthly Income Scheme (MIS), National Savings Certificate (NSC), or Senior Citizen Savings Scheme (SCSS). However, it is not necessary that nominee should be recorded in all accounts. Let us tell you how to withdraw money in such cases.
When a nominee is registered
In such cases the nominee has to submit Form SBK 2, the death certificate and identity proof of the account holder. If the claim is for less than ₹ 5 lakh, then the post office usually disposes such claims without demanding a nominee certificate. The nominee can get money by depositing cash, check or depositing it in his own post office account. Generally, if all the papers are correct, the claims are disposed of within seven working days.
At the same time, the claimant will have to submit a succession certificate from the competent civil court at claims of more than Rs 5 lakh. It takes time to get it made and for this, legal fees and court hearing may also have to be held.
What to do in the absence of nominee?
If the deceased has not registered a nominee, legal heirs or heirs will have to follow a process. It is of two types:
If the claim is up to ₹ 5 lakh, the claimant will have to file Form SBK 2, Compensation Letter (Form SBK 3), Affidavit and Discussion Patra (Form SBK 4 and SBK 5), Death Certificate, Death Certificate, ID and the Legal Heir Certificate given by the address proof and local authorities. If the heirs submit discomfort on evidence, no civil court succession certificate is required. The postmaster examines documents. If all legal documents are correct, the claim is disposed of.
If the claim is above ₹ 5 lakh, then the claimer will have to submit a succession certificate from a competent civil court. It takes time to get it made and for this, legal fees and court hearing may also have to be held.
What to do when you have a joint account?
For joint accounts, the living account holder can request the transfer of the account in its name by submitting the form SKB 1 and the death certificate. It does not require any other legal document unless there is a dispute.
What should be kept in mind?
Always register a nominee while opening a post office account to avoid any kind of legal problems in future. If the details of the nominee are not updated to the account, family members may have to undergo long legal processes. Nominee is not greater than succession laws. In case of disputes, the legal heirs can sue the nominated person in the court.