Gabrieli
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hi,
I wish to know if withdrawal of funds from a joint account (held between grandfather -grandson) where the grandfather dies,and grandson withdraws money, can children of the now deceased grandfather, sue the grandson and start criminal proceedings. Mode of operation of bank account is either/survivor . Further, the now deceased grandfather has also left a Will behind.
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This will not constitute a bank fraud since the account was E or S. Check whether the grandson has intimated the Bank about the death and furnished the death certificate to the bank. What is the content of the will left behind. Is there any reference about this particular account and modality of distribution of the balance lying in the said account
With respect to Joint Accounts, any of the joint account holders can manage the transaction either by survivor or severally.
It all depends on the condition put by the bank while opening the Joint Account.
First , try to show, the violations of law and then think of initiating either a civil or criminal proceeding .
The account itself is styled 'Either or survivor' .You can unfer the meaning.No fraud.
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