South Africa Law
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Hi Mr or Mrs Goldbach - let me try to help please - can you explain why you want to freeze or unfreeze an account - I'm assuming that one of the parties to a marriage in community of property has passed away and perhaps the Bank has frozen the Account? This should only be so for as long as it takes for an executor or executrix to be appointed and to receive letters of executorship. At this point the Executor/trix will open up an estate account and the surviving spouse can claim maintenance or a portion of the credit funds being his or her 50%. Please let me know if this helps and let me have any further info you can in order to assist you further. Regards Shaie
Good Day, I'm sorry but your answer does not help at all, I am familiar with what you explain. What I am trying to establish is the legal basis for the freezinAs I've said of accounts, i.e. which Act mandates such account freezing? As I've said, the Administration of Estates Act says nothing about this matter. Do you want to do a search or shall we drop the matter?
Good Day Shaie, I am familiar with the procedure you have outlined. What I want to know is what is the legal basis for the freezing of accounts, i.e. which Act mandates it? Kind regards, XXXXX
Your reply does not really satisfy me. You say " to the best of my knowledge the closure of an account is not legislated". Why then does everyone involved in estate administration insist that accounts must be frozen? I can understand that a bank may want to do this for the reason outlined by you, and for that to happen they must of course first have received a death notice. Are you sure there is not somewhere in the welter of South African legislation dealing with deceased estates a hidden requirement for the freezing, not closing of accounts? The closing will happen once the Estate Late account has received all funds from the frozen accounts. I really need to get to the bottom of this!
'Accepted practice' - definitely but it does not seems to have any direct legal basis. OK. Let's leave it at that, even if my question has not found any real answer. But thanks for your efforts!
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