bigt2:
You no get lawyer? How much did they tell you the Letter of Administration would cost that is exorbitant? Are they to do that for you?

LA are expensive basically on how much the money is 10percent is what some lawyers would charge for it

Mr Man...


Your father cannot leave a "mandate" for the bank to execute on his death.

The bank is NOT an administrator of your father's estate. He should have left a will to solve all this rubbish.

You better do as the bank says to save your time.

zuma4k:
Please fellow nairalanders, I need your opinions on this and if possible front page. It's quite personal and goes like this.
1. Mr Adam (my father) opens a fixed deposit account with X Bank. He subsequently submits his wife's details and makes her a co-signatory to the account with the *express mandate* that upon his demise, his wife exercises automatic access to the account and it's proceeds. Does this amount to a valid contract between him and the bank?.

2. Note that after his death the bank reneged on the primary provision of his directive, stating that a letter of administration must be procured (at an exorbitant cost).
Stated Reasons bothers on the fact that under banking laws and the principles of a valid contract, a contract between a depositor and the bank terminates upon the demise of the individual thus rendering the *mandate* unenforceable and invalid.
Please mods I need this on front page. Thanks.

u must get the required documents before any thing can be done,



death certificate
burial pix
letter of administration
court bla bla bla
meeting between u guys as a family and the authorization from u all night help

we went through the same thing bro

Adakintroy:
See how vain the church as an institution has become. The Pentecostal that profess the holy spirit could not perform roles of spirits.

Comfort! The great conforter..Mourn with those mourn. It's emphasy was on reopening. So I ask you very educated Christians. To what end is the a church?

off point

The bank is correct and that is the standard of the bank

This is normal my friend. When I lost my father, I got the letter before i could access the money in the bank. It is very simple to get letter of Authority. Go to the magistrate court in your area. U need the death certificate and maybe your father's lawyer or an elder in your family. It a simple process. Good luck.

daddytime:
My dear brother, I can understand how you feel about the entire bureaucracies but yes, the bank is right in their assertion.

A letter of administration or LOA is a standard requirement to enable a next of kin(s) to access a deceased's account.

It might seem stressful and expensive but its wholly legal the world over.

But if the wife is a Co Signatory to the account it means she also has a stake in the account and it's not an inheritance like the bank is making it seem

zuma4k:
Please fellow nairalanders, I need your opinions on this and if possible front page. It's quite personal and goes like this.
1. Mr Adam (my father) opens a fixed deposit account with X Bank. He subsequently submits his wife's details and makes her a co-signatory to the account with the *express mandate* that upon his demise, his wife exercises automatic access to the account and it's proceeds. Does this amount to a valid contract between him and the bank?.

2. Note that after his death the bank reneged on the primary provision of his directive, stating that a letter of administration must be procured (at an exorbitant cost).
Stated Reasons bothers on the fact that under banking laws and the principles of a valid contract, a contract between a depositor and the bank terminates upon the demise of the individual thus rendering the *mandate* unenforceable and invalid.
Please mods I need this on front page. Thanks.

what the bank asked for is legit. They asked for it when my dad died and we got it for them and everything was sorted. Getting the letter of administration is what you should do right now instead of trying to sue as that will eventually cost you money and in the end you will still need the letter of administration. It's a must to claim a deceased wealth

Never heard of anything like open fixed deposit account. If you have an account with the bank, either savings or current you can fix you money for a period of time with a certain percentage and it can be rolled over after the period. And you for don't want to roll it over again, the money moves from the fixed deposit status with the interest back to your account. Then you can make withdrawal. Except someone in the bank knows about your father's death and has used the money to settle him/herself.
Even if you start fixed deposit today and you have financial issues next two weeks, you can go and close it. They will only take their charges.
My friend enter that bank and cause wahala you will get attention. Call the banks call center or probably use my style go to Twitter and follow the bank and start bombarding them and name everybody in that branch. Forget lawyer first.

FirstCounsel:
.
This would not work. Trust me. Social media?

Yes it will work because banks hate social media to talk negative stuff about them, it frightens there customers

SocialJustice:
Talk to a lawyer, don't waste your time here.

whenever I have a bank issue that I don't understand,l always consult some of my friends who are in banking profession. Is then l will know the next step to take l suggest you do same before consulting a lawyer or going to their banking hall to make noise

MY BROTHER TELL IT TO GOD, PRAYER IS TILL WORKING PUT THEIR NAMES IN PRAYER, GOD OWNS THE HEART OF KINGS.,AFTER THAT TAKE LEGAL ACTION...

Post this on Twitter tag the bank, cbn, and other relevant people.

Your question did not state whether the 'contract' was a contract outside the regular banking contract between a bank and its customer.
I raised this issue because there are many types of contracts in law and all kinds of contracts are subject to specific laws applying to them.
I will answer you on the presumption that what happened is that the account opened by your father and mother is one where the account opening mandate is such that allows either you dad or your mother or both of them to sign cheques on the account.
Where this is the case (and I believe it is, because banks don't go signing contracts with customers about accounts operation other than as contained in the mandate forms), the bank was wrong to have prevented your mother from continuing to operate the account. You might want to contact your lawyer to write and demand that the terms of the mandate be applied.
However, I cannot fail to point out that someone in your household informed the bank formally that your father is late. Banks are not spirits. If someone has not written to them to notify them of your father's demise, they cannot just wake up and know he is late.
Good luck!

comshots:
It's not everyone that can afford hospital bill.There was a time I had some painful boil at my back.I was bursting them until it started hurting me like I was poured hot palm oil.I visited a private hospital but I couldn't afford a bill of #13k.I walked straight to a pharmacy shop.After the pharmacist exermined the affected area I was given some antibiotics for as low as #1k,not becham.When I swallowed them for 3 days the affected areas dried up and I was relieved.

Country no easy jor, with health you can cut corners but not with the law. My dad died with money in his account too. Took us about 5 Court sessions to get the money. We didn't sue the bank. There are legal procedures for these things and unlike self medicating, you can't ask any typist to type the documents you need, legal professionals must do it and the legal professionals who will do it can't do it through Nairaland. The customary court that will conduct the hearing is not online. That's my point.

Did your mother went to the bank with your dad to execute access to account authorization?
In that note, it is either both to sign?
Or Any to sign? If any to sign, then your mother will have non restricted access to the account
Your mother's signature must be captured.
Many men brought this distress to their family, by viewing the money the are or made as their own.
This will be a lesson learned for you to correct the sin and omission of your father.

They are very correct, what your dad ought to have done was to have a mandate of 2 signatories with EITHER TO SIGN

on his demise or hers there will be absolutely no need for any paper work as she's already a signatory with the legal backing to operate the account

Couples should do this to save loved ones from the greed of the banks. If you can share your body and DNA with your wife(via your kids) then she's eminently qualified to also be a co signatory to your account

Be proactive in your reasoning

OP your father did not not write a Will? If not who is to get you the letters of admiration, the bank or a lawyer? Just get a lawyer vast in Lastwill and testament to fight the matter, the bank have no mouth and don't be afraid or unless your father died enstate

Willy123:
whenever I have a bank issue that I don't understand,l always consult some of my friends who are in banking profession. Is then l will know the next step to take l suggest you do same before consulting a lawyer or going to their banking hall to make noise

Read my last post before this. I have done what he's trying to do, online advice won't help.

/
Talk to a lawyer.

Always remember that once your money enters a bank, it becomes the bank's money. Your only hope is that the bank will honour her side of the deal instead of creating bottleneck bureacracy to frustrate depositors. Unscrupulous bank can declare insolvency and there goes your money. NDIC may end up compensating your great great great grandchildren for your loss.

/

Jonakez:
I have been in this issue before. It was the same LETTER I GOT BEFORE I WAS ABLE TO GET MY LATE FATHER'S MONEY IN HIS ACCOUNT ..I will advice you to proceed to court to get the LETTER OF ADMINISTRATION... By getting it, you'll be able to access the money immediately... Do just that...
Call me here, I will advise you more.... 08064425362..
Forget the LAWYER STUFF..

Abeg how much you pay to get the LOA?

Na ur pop complicate matter, why dint he just state in the mandate, either to Sign, whether dead or alive, either baba & d wife could sign, but since him don put clause say, the wife could only sign after his demise, you have to provide both letter of administration & his death certificate. People really need to understand how banking works, most especially wen you have to raise clauses on account mandates .

Fheelzz:
All these grammars sef i no jus understand

I thought I was alone

zuma4k:
Please fellow nairalanders, I need your opinions on this and if possible front page. It's quite personal and goes like this.
1. Mr Adam (my father) opens a fixed deposit account with X Bank. He subsequently submits his wife's details and makes her a co-signatory to the account with the *express mandate* that upon his demise, his wife exercises automatic access to the account and it's proceeds. Does this amount to a valid contract between him and the bank?.

2. Note that after his death the bank reneged on the primary provision of his directive, stating that a letter of administration must be procured (at an exorbitant cost).
Stated Reasons bothers on the fact that under banking laws and the principles of a valid contract, a contract between a depositor and the bank terminates upon the demise of the individual thus rendering the *mandate* unenforceable and invalid.
Please mods I need this on front page. Thanks.

If ur late father died without leaving a will behind then u actually need the letter of administration cus he died 'intersate' which is the term used by government for someone who died without leaving a will behind. But if he left a will behind then the bank has no business demanding for a letter of administration from his next of kin. The process of the letter of administration is quite cumbersome that is why it is kind of expensive. The estate the deceased left behind has to be valued,a property tax has to be paid by the next of kin and it needs a governors signature cuz he died interstate. It takes time to process cus there are steps to it. Get in touch with a seasoned lawyer who will guide u thru and hopefully get things sorted out for u. But search thoroughly if ur late dad left a documented will behind,cus if he did it will save u all the stress and inconvenience. Good luck

A letter of administration will definitely be required before a next of kin can access the account
Because without the LOA there’s no way the bank can prove that account owner is late.

My problem is that the LOA is so frustrating to get spent close to a year and half before I got that of my pops,even after obtaining that the bank willl waste your time ehn except possibly your lawyer is a SAN

All in all just get yourself a very good,competent and popular lawyer within your state where the bank is located and you’ll be fine at least to the nearest minimum.

Mindlog:


Do you want to consult a doctor for it?

I wonder oooooo.

Consult a legal practitioner, and he says that's a routine advice.

zuma4k:
Please fellow nairalanders, I need your opinions on this and if possible front page. It's quite personal and goes like this.
1. Mr Adam (my father) opens a fixed deposit account with X Bank. He subsequently submits his wife's details and makes her a co-signatory to the account with the *express mandate* that upon his demise, his wife exercises automatic access to the account and it's proceeds. Does this amount to a valid contract between him and the bank?.



2. Note that after his death the bank reneged on the primary provision of his directive, stating that a letter of administration must be procured (at an exorbitant cost).
Stated Reasons bothers on the fact that under banking laws and the principles of a valid contract, a contract between a depositor and the bank terminates upon the demise of the individual thus rendering the *mandate* unenforceable and invalid.
Please mods I need this on front page. Thanks.

If you are ready to collect your money, you won’t use the title X BANK. Name the bank, put it on Twitter etc and watch how they will beg you else they risk loosing clients. As it stand now, you are still protecting the bank

TheChameleon:


Very dry.

Keep your dumb jokes for Romance section.

You’re a 17 year old NL troll.
Won’t waste my time on you

That's the law in banking. You have to go to probate in a high court near you to get it. It is not that costly, just make sure you do not stipulate the exact amount in the primary account else you will have to pay 10%.

It took me one year and six months to get that document when my Dad passed on.

The berieved should not be made to pass through this kind of stress. It's a stupid law that should be stoped by now, but our law makers are busy doing nothing.

zuma4k:
Please fellow nairalanders, I need your opinions on this and if possible front page. It's quite

Hold a copy of your dads death certificate
Go to the closest High Court to you
Ask for the Probate Registry
Meet a calm looking person there.
Ask him to put you through and assist you on how to get your father's estate administered as he died intestate.
He will refer you to a lawyer or use yours.

The banks are 100% in line with what they are supposed to do.
A deceased person can't execute a mandate. The mandate as-is is voided by the demise of your dad.

Fheelzz:
All these grammars sef i no jus understand

You must be a science student

daddytime:
My dear brother, I can understand how you feel about the entire bureaucracies but yes, the bank is right in their assertion.

A letter of administration or LOA is a standard requirement to enable a next of kin(s) to access a deceased's account.

It might seem stressful and expensive but its wholly legal the world over.

The state government must eat from the money
Though letter of administration is not easy to get and the procedure is long and hectic
I did for my father based on the fact that I dint have Tim it took 3 years