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What is the process to claim shares after a joint demat account holder's death?

Please read this article that explains the documents to be given before proceeding with the steps mentioned below.

When one of the joint account holders passes away, the surviving holders shall succeed to the securities and funds standing to the credit of such an account. They should send:

  1. Transmission Request Form duly filled in – Annexure 7.2
  2. Original or copy of the death certificate of the deceased holder duly notarized/attested by a Gazetted Officer.
  3. Client Master Report(CMR) with DP seal and signature of the joint holders, in case the joint holder(s) has/have a DEMAT account with some other DP of CDSL / another depository. If the joint holder(s) has/have a Demat account with Zerodha, then the CMR is not required.
  4. Surviving holder/s ID proofs.
  5. Surviving holder/s cancelled cheque or bank statement.

Note: If a surviving holder/s doesn’t have an account, you can open one instantly online. You can open an account here . If you need any help with the account opening, you can get in touch with us on 080 47192020 / 080 71175337

The surviving holder(s) can transmit securities to an account opened in their names only.

Let’s look at a few examples:

Suppose there is a joint Demat account in the names of A, B and C. Here, A is the first holder, B, the second and C, the third holder. If B dies, then the holdings can be transferred to a joint account held by A and C, where A is the first holder and C is the second holder only.

Suppose there is a joint Demat account in the names of A and B, where A is the first and B is the second holder. If B dies, then the shares will be transferred to an account where A is the single holder of the account and not to any other joint account of A.

Note:

  1. The transmission process takes 15 days to complete.
  2. Lock-in shares will be moved to the nominee/successors CDSL Demat accounts only.

The forms have to be sent to Zerodha head office at -

Zerodha,
153/154, 4th Cross, J.P Nagar 4th Phase,
Opp. Clarence Public School,
Bengaluru - 560078

The forms can be sent via post, registered post, speed post or courier.