Transfer of Shares

[kabita_riya]

I have demat a/c jointly held with my uncle (first holder). My uncle passed away recently. Can I transfer my all holdings to my husband who has demat a/c with another DP? What are the procedures of transfer of shares when first holder expires and only joint holder remains in holdings? Please advise.

 

[emmabing16]

I have demat a/c jointly held with my uncle (first holder). My uncle passed away recently. Can I transfer my all holdings to my husband who has demat a/c with another DP? What are the procedures of transfer of shares when first holder expires and only joint holder remains in holdings? Please advise.

Hi Kabita,

You can transfer your shares from your previous demat account (assuming you are a second holder of the previously held demat) to new demat account in two ways:

1. Online procedure:
There is an online login detail provided by the depositaries on their website; from which you directly transfer yours shares to new demat account giving all the details of new demat like DP ID, Client ID. This procedure might take a time of one month right after the submission of your online request.

2. Physical procedure:
While you open up a demat account, you are provided with DIS slips (depositary information slips) which can filled with new demat account details and once the details for transferring the shares is punched by the old broker/depositary, your shares will appear in new demat account.

I hope I resolved your queries.