 "Tax, investment, property, savings, mutual fund, MF")
If I decide to make a distant relative a nominee, can my legal heirs challenge the fund house paying the money to the nominee after my death?
According to the Securities and Exchange Board of India’s (Sebi) regulations, transfer of units in favour of a nominee shall be valid discharge by the asset management company (AMC) against the legal heir. However, according to the law, the nominee is only a trustee of the assets, that is, he or she would be a caretaker of the assets after the death of the investor and is legally bound to transfer the assets to
