While Dematerialising can a Sole Holder add a Joint Holder?
No. Dematerialising of shares is merely conversion of shares from one form to another. No change can be made in ownership. To add on a joint holder, you will have to open a Depository Account (A) as the sole holder and dematerialise the shares. Simultaneously, open another joint Depository Account (AB), with the both your and the joint holder’s name. Now you can make an off-market transaction from Account A to Account AB. The DP will charge a nominal amount for this transaction.
Related Questions
- Can a sole holder of the share certificates add one more name as a joint holder at the time of dematerialising the share certificates?
- What is the process for dematerialising physical shares of a joint account in case of death of one account holder?
- While Dematerialising can a Sole Holder add a Joint Holder?
