Glide Invest FAQ: How does legal claimant access Mutual Fund investments upon death of an investor?

How does legal claimant access Mutual Fund investments upon death of an investor?

In case of death of an investor, their nominee or legal heir can claim the proceeds by process of transmission.  Here are some things to keep in mind. 

Case 1: If there is a nominee registered
  1. The basic process is to submit the following documents:
  2. Transmission form T3
  3. Requesting letter for transmission from surviving unit holders to the fund/RTA
  4. Death Certificate original/ copy attested by notary or gazette officer
  5. KYC proof of nominee
  6. Bank account details of nominee
  7. FATCA
If the amount is less than than Rs 2 lakhs, the nominee's signature is attested by the bank manager. On the other hand, if amount is more than Rs 2 lakhs the nominee signature is attested by notary or a first-class judicial magistrate.

Case 2: Absence of nominee
In case there is no nominee of the investor the claimant will have to produce:
  1. Succession certificate
  2. Probate of will or letter of administration


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