A bank locker is a storage facility provided by banks where you can store your valuable items safely within the bank premises. is a small locked compartment within a highly secured vault within a bank branch. It can be accessed only by you and authorized people. Gold, jewelry, ornaments and important documents can be stored in the bank locker. This can be operated by an individual (either single or joint) and nomination facility is also available.
However, what happens after the death of the primary holder ? Will nominee have access to the contents of the locker and can the nominee claim ownership.
A recent Kerala High Court ruling seems to clear the air. It highlighted a misconception regarding joint bank lockers as to the rights of the nominee. In a recent case, a woman lost her claim to over 180 sovereigns of gold despite holding the locker with her late mother under an “either or survivor” mandate, the claim failed because the mother had executed a valid Will bequeathing the gold to another relative.
As per the court, a locker agreement only governs access, not ownership. A valid Will takes precedence and survivorship clauses cannot override succession.
To avoid any disputes, the locker owners draft a clear Will specifying the locker, its contents and beneficiaries. Maintain an inventory of valuables, especially jewellery and documents and this align with the nomination and joint holder to avoid conflicts.
(Case No. RSA No. 51 of 2023 – Supriya Suresh Kammath v. R. Jayachandran Kammath and Ors)
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