2 party joint holders in stock
Meena Khaitan
(Querist) 02 May 2018
This query is : Resolved
V hv a stock of Infosys. It's first holder was my FIL. N as per his will everything goes to my BIl. The 2nd holder was my husband n as per his will everything comes to me. My FIL expired first after few yrs my husband also expired. Now my BIL says tht the stock vl b his bcos he is beneficiary of the 1st holder.
My question- what happens to the beneficiary of 2nd holder??
Guest
(Expert) 02 May 2018
Bering complicated issue, detailed examination of the case is required to be made with reference to the copies of the both the wills and the dates of death of the each of the joint holders. Ideally, you can be the ultimate sole owner of the stock, if proper procedure is adopted.
R.Ramachandran
(Expert) 03 May 2018
You have left out lot of information.
1. Whether the shares/stocks were in demat format or physicl format?
2. If it was in demat format, whether information about the death of your FIL was given to the Depository as well as the Company i.e. Infosys?
3. Once the information about the expiry of your FIL was given then his name would have been deleted and only your husband's name as second holder would have been there on the records.
Therefore, it is not clear what exactly happened. Please elaborate.
Guest
(Expert) 03 May 2018
Sincere efforts of Mr. Dhingra and Mr. Ramachandran are appreciable to solve the problem, but the query does not seem to be related to any real problem. As per my guess, it can only be an academic query on the part of the querist. Anyway, if problem really exists, let's wait for any further information from the querist. But, still a lot more of the information may be needed to solve her riddle.
