Can I transfer a demat account without a probate? My father had made me (his son) as nominee on his demat account. However as per his will this account should be given to his grandson (my son). Bank wants a probate of the will. However as per his will this account should be given to his grandson (my son) and I have no objection to it. Bank is demanding that I should get probate of the will done, which I want to avoid because of a lengthy and costly affair.
If a nominee, being a custodian has no objection then is bank rightful in demanding probate. They are happy to transfer to me but then I do not know how I can transfer to my son without attracting capital gain and not showing as a fresh sale / purchase transaction.
