Transfer of property
Ranu vikas jain
(Querist) 18 February 2018
This query is : Resolved
Can I operate my husband's demat account after his death and sell his stocks on the basis of legal hire certificate.
Vijay Raj Mahajan
(Expert) 18 February 2018
Demat account are being operated online that anyone can operate who is aware of the Login ID and Password and if you know that you can sell the share/stock online of you deceased husband. You being legal heir have right to do it unless other heir of your husband challenge your act of recovering the money out after selling the share/stock of your husband and pocketing the entire fund in your pocket, that will be another issue that you have to handle.
R.Ramachandran
(Expert) 18 February 2018
Even if you are the only legal heir of your husband, it will not be legally correct for you to sell the shares in the Demat Account of your late husband. You have to get the shares transferred to your Demat account on the basis of the Legal heir certificate. Only then you can sell the same. [Assuming that you sell the demated shares from your husband's demat account, then the sale proceeds will get credited only to your husband's bank account. You will be able to withdraw the amount lying in the bank account of your husband, only if you are a Nominee in that account. Otherwise, you may have to furnish a Succession Certificate to the bank and only on that basis the bank will permit withdrawal of the amount lying in the husband's bank account.)
