Dear Friends
Investment in a mutual fund can be made in a single name or in a joint mode
with three people. The mode of holding can be anyone / survivor or joint. In
case of the demise of one of the unit holders, the following situations may
arise. Here is how you can tackle them :
DEMISE OF FIRST UNIT HOLDER :
In case of the demise of the first holder, units will be transferred to the
second holder for which the following documents are to be submitted :
a) Letter from the surviving unit holders intimating the death of the first
holder
b) Copy of death certificate of the first holder duly certified in original by
a bankers / AMC
c) Adress, bank details, PAN & KYC of second holder
DEMISE OF JOINT HOLDER :
In the case of a demise of one of the joint holders (other than the first) the
following will happen. Units will continue to remain in the name of the first
unit holder. The first unit holder has the option to register any other person
as a joint holder for which the following documents are required to be
submitted :
a) Letter from the surviving unit holders intimating the death of the joint
holder
b) Copy of the death certificate of the joint holder duly certified in original
by bankers / AMC
c) Name, PAN, KYC signature of the second holder in case a new holder is to be
registered.
With Best Regards
SHENOY INVESTMENT AND FINANCIAL
CONSULTANTS PRIVATE LIMITED
11-A, KASHI NIKETAN, 2ND ROAD,
CHEMBUR, MUMBAI - 400 071
TEL : 6797 3433 / 2521 2111
EMAIL : shifc...@gmail.com
shifc...@mtnl.net.in
Dealing in Mutual Funds, General & Life Insurance Products, Post Office
Schemes, Fixed Deposits, I.P.Os., and Capital Gains Bonds
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