Transmission is the process by which securities of a deceased account holder are transferred to the account of his legal heirs / nominee. Process of transmission in case of dematerialised holdings is more convenient as the transmission formalities for all securities held in a demat account can be completed by submitting necessary documents to the DP.
In the event of death of the sole holder, how should the successors claim the securities lying in the demat account?
The claimant should submit to the concerned DP an application with Transmission Request Form (TRF) along with the following supporting documents:
a) A notarised copy of the death certificate, In case of death of the sole holder where the sole holder has appointed a nominee.
b) In case of death of the sole holder, where the sole holder has not appointed a nominee:
a. A notarised copy of the death certificate, and
b. Any one of the below mentioned documents
Succession certificate
A certified copy of the will and the probate
A certified copy of the Letter of Administration only if the value of the securities is more than 1 lakh.
c) The DP, after ensuring that the application is genuine, will transfer securities to the account of the claimant.
d) The major advantage in case of dematerialized holdings is that the transmission formalities for all securities held in a demat account can be completed just by interaction with the DP alone.
