My dad bought shares of morepen labs a few years ago.Some of the shares are jointly held by my grandmother and my father,whereas the remaining are jointly held by my mother and my father.They are in paper format. How can I transfer all these shares to my demat account ?
Jointly held physical shares can only be de-materialized into a joint demat account which is in the name of the joint share holders. You won’t be allowed to de-materialize it into a single holder demat account.
You can read more here.
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I hold 293 shares of NIRLON in (kyc done) physical form jointly with my father . we do not have any joint account either with bank or broker or dp . Opening a joint demat cum trading account only for a single transaction , …demat these shares …sell and close the accounts . IS THERE any other option available .
please guide.
@ShubhS9
Hey Anil, if you or your father hold a Demat account anywhere, you can open a joint Demat account and link to the trading account (Trading account cannot be joint, this will be single) and dematerialize the shares. Once done, you can either sell these shares or transfer them to other Demat account if you want to hold.
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All you need to do is link the joint account to your trading account. Hold the shares for however long you wish.
other option is Open a joint demat account with a cooperative bank (already have individual saving account ) get the shares demated and transfer the same to my Zerodha account on "demat account closer cum transfer "basis .