What happens to a Demat account after someone passes away? Does the nominee or legal heir inherit it?

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Apni Law
Law Forum › Category: Civil › What happens to a Demat account after someone passes away? Does the nominee or legal heir inherit it?
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Apni Law Staff asked 2 years ago

What happens to a Demat account after someone passes away? Does the nominee or legal heir inherit it?

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Apni Law Staff answered 2 years ago

Upon the death of a Demat account holder, the nominee, if appointed, will inherit the account and its holdings. If no nominee is appointed, the legal heirs will inherit the account, but they will have to obtain a legal succession certificate to transfer the account to their names.

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