I have a friend whose mother has passed away. She has 3 legal heir. In her will, she mentioned that the property share to be given by the nominee should not exceed Rs 15 lacs and the other 2 legal heir will sign the receipt before the receipt of the payment in the court. She had bank accounts for which she has nominations as well. My question is is as follows
1. In case of property, each legal heir has 25% share. In case the property market price sale is 1cr,each one is entitled for rs 25lacs.how can rs 15 lacs be binding in that case? Can this be contested.
2.for bank account, will the nominee share the proceeds with the others as in property or are they entitled for 100% share
3. In case of a dispute, can the legal heirs make a MOU or Moa which is legally binding.
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