Jigna (student) 03 March 2014
Dear Sir,
My granny has 2 sons
Recently my Granny has passed away and my father is a joint holder in some securities(demat shares)and a nominee in some demat shares.
I understand after giving the death certificate my father becomes the owner alone.
What happens in a joint holder (2nd holder ) after the death of Primary holder?
Can my uncles ask for a share in any of the 2 cases legally?
Plz help to clear my doubt.
Awaiting your reply.
Regards,
Jigna
T. Kalaiselvan, Advocate (Advocate) 03 March 2014
In the case of joint holding, your father becomes the absolute owner in which your uncles cannot claim a share in it, however, in the second case where your father is a nominee, he is just an authorised receiver of all the benefits on behalf of all the legal heirs of the deceased, therefore, he liable to distribute the shares equally to all the legal heirs.
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