InvestorQ : I have some shares in my name and some in joint names with my wife and some with parents. Can I demat all these shares in a single demat account?
Arti Chavan made post

I have some shares in my name and some in joint names with my wife and some with parents. Can I demat all these shares in a single demat account?

Answer
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Aditi Sharma answered.
2 years ago


Sorry, that will not be possible. If you have share certificates in a particular name or order of names, then demat can also be done only in that name or order. Demat account must be opened in the same ownership pattern in which the securities are held in the physical form. e. g. if one share certificate is in the individual name and another certificate is joint with somebody, two different accounts would have to be opened. If you are holding some shares individually as Pravin Patel, some jointly with Kavita Patel and some jointly with your father Pareshbhai Patel, then you will need 3 accounts in total to dematerialize these shares.
It is not just about joint names but also about the order of names. What is required to be done if one has physical certificates with the same combination of names, but the sequence of names is different i.e. some certificates with ‘A’ as the first holder and ‘B’ as the second holder and other sets of certificates with ‘B’ as first holder and ‘A’ as the second holder? In this case, the investor may open only one account with ‘A’ & ‘B’ as the account holders and lodge the security certificates with a different order of names for dematerialization in the same account. An additional form called "Transposition cum Demat" form will have to be filled in. This would help you to effect change in the order of names as well as dematerialize the securities. The other option is to open a joint account in the same order of names as is mentioned in the physical certificates.