Nomination
Market basicsAlso called: Nominee
Naming the person to whom an institution may release assets on the holder’s death.
In plain terms
Five minutes now, or two years of paperwork for your family later.
1492 terms
Glossary
Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
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Transmission
Market basicsThe process of transferring securities to legal heirs or a nominee after the holder’s death.
In plain terms
Simple with a nomination. Without one, and for a large holding, it can require a court.
Unclaimed assets
Market basicsShares, deposits and fund units whose owners or heirs have not come forward to claim them.
In plain terms
Thousands of crores sit unclaimed in India — mostly because nobody registered a nomination.