The apex court said the vesting of securities in favour of the nominee was for the limited purpose of ensuring there is no confusion pertaining to the legal formalities to be undertaken upon the death of the holder.
A businessman’s personal assets might be protected if s/he takes a business loan, but if there is evidence of cheating or if the amount is disputed or contested in court, the personal assets can be liquidated to pay off the debt. This takes precedence before legal heirs can claim their rightful share.
The Legislative Agenda for the Tenth Parliament thezimbabwean.co - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thezimbabwean.co Daily Mail and Mail on Sunday newspapers.
NewZimbabwe.com – The Zimbabwe News You Trust is Zimbabwe’s leading online newspaper and published by New Zimbabwe Media Ltd. The platform brings you the latest breaking News, Business, Showbiz, Sports, Diaspora and gives you everything you’ve come to expect and love.