If one of the joint holder dies, why there is a need to disclose the death when the joint holder can get the money without any hassle. Especially, when the redemption is either or survivor mode and there is a joint account in the bank where the redemption amount would be deposited?
- Sanjiv Dheer
If one of the joint holders (other than the first one) dies, the investment will continue to remain in the name of the first unit holder. He can hold his investments in this fashion or he has the option to register any other person as a joint holder, for which he will need to submit the following documents: A letter intimating the death of the joint holder, a copy of the death certificate of the joint holder certified by bankers/AMC, Name, PAN, signature of the new holder, who is to be registered.
This article was originally published on February 08, 2016.
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