Transmission of Shares After Death: Nominee and Legal-Heir Guide

Transmission is the change in ownership recorded after the death of a security holder or another operation of law. It is different from a voluntary transfer or sale. The first step is to identify whether the securities are held in a physical folio or demat account and whether the holding is single or joint.

For joint holdings, the surviving holder usually follows a different route from a nominee or legal heir of a sole holder. The existence of a nomination can simplify the service request, but it does not replace every succession right or resolve a family dispute.

For physical securities, contact the issuer's current RTA. For demat securities, approach the deceased holder's depository participant. Ask for the latest transmission form and checklist for the exact category: surviving joint holder, registered nominee, legal heir, executor, administrator or claimant under a succession document.

SEBI issued a revised transmission framework in July 2026 to simplify and standardise the process. Because thresholds and document alternatives can depend on current rules and the facts, use the latest RTA or DP checklist rather than a generic list found online.

Collect the holding details and determine the claimant category before preparing documents. Submit the prescribed request to the RTA or DP and keep an acknowledgement. The intermediary examines the account, nomination, death record, signatures and entitlement documents, then communicates any deficiency.

For physical folios, successful service requests are completed in demat mode under the current framework. The claimant should therefore have an appropriate demat account with matching records. If shares were transferred to IEPF before transmission was completed, the company may first verify entitlement and then support the IEPF claim route.

Complications often arise from multiple legal heirs, conflicting nominations, a will under challenge, name differences, missing certificates, unregistered old transfers or incomplete family records. These issues should be identified at the start because they can change the document route and whether legal advice is needed.

Do not assume that one company's checklist will work for every holding. Different companies may have different RTAs, folio records and corporate-action histories. Prepare a separate tracker for each issuer and keep the claimant details consistent.

A routine, undisputed transmission can often follow standard RTA or DP forms. Seek independent legal advice when heirs disagree, a will is contested, title is unclear, court documents may be required or the claimant is unsure about succession rights. Investor-service assistance should not be treated as a substitute for legal representation in a dispute.