All videos · NISM Series V-A · Chapter 9
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Does the nominee own the units?
After an investor's death the units are transmitted to the nominee, who holds them in trust for the legal heirs. The nominee is not the owner.
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The full concept: Nomination, pledge, demat and transmission
Worked example: Vikram names his wife as nominee. After his death, the units are transmitted to her, but she holds them in trust for all his legal heirs, who can claim their share under his will or succession law.
Exam trap: The nominee is a trustee for the legal heirs, not the owner. A private company cannot be a nominee.
