Transfer of shares in the name of nominee

Question

My father passed away a few years back and the shares held by him are lying with us in physical form. My mother is the nominee in most of the shares and has inherited the remaining by way of my fathers will. I would like to know the procedure for transfering the shares in my mothers name and the procedure for dematerialisation of the same. My mother is holding a demat account.

I reside in India. Kindly advise accordingly. Thanks in advance.

Answer 1

I don't know about India law

But in general, you take the stock certificates and a certified copy of the death certificate to a bank or broker who can receive the shares. Deposit the shares in the account. Get a receipt. Then you can sell the shares once they have been verified by the Transfer Agent.

Answer 2

I am an American. In the US what you'd do is take the physical certificates into a broker and they could handle the changes provided you have legal papers to prove the transfer is legal. Possibly a lawyer would have to be involved if a question of title were to arise.