Legal heir vs second holdre in mutual fund

All legal heirs of first holder are entitled to get their respective share and rights over first holder share irrespective of fact that second holder is also one of legal heir.

According to the legal contexts the individual or individuals who can file a claim with a fund house to get investments of the deceased investors transferred to their name are known as the "Claimant".
There are three types of claimants who might be eligible for transmission of units to their name after the death of an investor, namely -
(a) Joint Holder,
(b) Nominee, and
(c) Legal heris.

Therefore, after the death of a primary holder the investments are transferred to the second holder, while on the other hand in cases where all of the joint holders have died, then the investments can be transferred to the nominee, however if there is no registered nominee, then the investments will be transferred to the legal heirs.

Henceforth, the legal heirs of the first/primary owner do hold rights over the investments, and are legally entitled to claim rights over the suits acquired by the second holder (regardless of the relationship between the primary and secondary holder).


Hope It Helps!

Regards
Kevin M. Paul