About two years ago my parents passed away. After a few months when we started looking through the papers of their investments and holdings, we found that one of our distant relatives had been named as the nominee in some of the assets. Can you please tell me if nominees need approval from the legal heirs to sell a property? There are seven legal heirs to the property in question here.
—Bhamini Parekh
Nominations are made for convenience to enable the entities—like companies, depositories, bank co-operative societies and insurance companies—to discharge their obligations and to enable them to deal with a specified nominated person until the legal heirs are ascertained and to protect the assets and rights of the deceased until the legal heirs can take steps to assert their claim.
