Transmission of shares refers to the transfer of shares from a deceased shareholder to their legal heir(s) or nominee. Unlike a regular share transfer, transmission happens without any consideration (i.e., no buying or selling involved) and is processed based on legal documentation.
1️⃣ If the deceased shareholder had a Nominee – The shares are transferred directly to the nominee’s Demat account.2️⃣ If there is no Nominee but a Will exists – Shares are transferred to the legal heir(s) as per the Will.3️⃣ If there is no Will (Intestate) – The legal heir(s) must obtain a succession certificate from the court to claim the shares.