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What is the procedure for transmission in case of Joint Accounts ?

April 26, 2017accounts Case Joint procedure transmission

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What is the procedure for transmission in case of Joint Accounts ?

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Ans. In the event of death of one of the joint holders , the securities will be transmitted to the surviving holder(s) on submission of Transmission Form and notarised copy of the death certificate of the deceased joint holder to the DP. For transmission of securities, the account of the surviving holder(s) must be in the same sequence in which the names appear in the joint account to be closed.

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On submission of Transmission form and a notorised copy of death certificate of the deceased joint holder(s) in the event of death of the joint holder(s), the securities will be transmitted to the surviving holders account. However for transmission of securities, the account of the surviving holder(s) must be in the same sequence in which the names appear in the joint account to be closed.