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Life of MF units after death of investor - The Hindu BusinessLine


Life of MF units after death of investor
Satya Sontanam
BL Research Bureau |
Updated on
April 03, 2021
Know the procedural aspects of transferring MF units
Investors use mutual funds to reap the rewards of their disciplined savings and investments. But their unfortunate demise can unsettle the whole planning. Here’s a low-down on the procedural aspects of transferring units to a claimant upon the death of a unit-holder.
Upon nomination
The registered nominee obtains the right to the units only upon the death of the unit-holder. If the account is held jointly, then the nominee obtains the right only after the death of all joint unit-holders. If there are multiple nominees, each nominee would get his/her share in a way indicated by the unit-holder. If the allocation/share for each of the nominee is not specified, the fund house shall settle equally among all the nominees. ....

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