Joint holdings are investments which are made jointly.Therefore it is not possible for you to unilaterally remove your ex wife's name from the mutual fund investment scheme procured by you as both of you are joint holders.

Both the investors have equal rights in a joint holding .

Since investments is in joint names your wife has equal share in investment made in joint names

2) you cannot remove her name in the mutual fund investments made

3) signature of all the investors are needed for both purchase and redemption.

If divorced, submit the copy of judgement. If not, submit an indemnity bond and redeem.

Talk to the mutual fund company.Generally without the consent of your wife you can not remove her name.

if they permit it is alright.otherwise you will have get her adhar number as well and then update both the accounts.

Please check the terms and conditions of the elss. If the contribution is done through your accounts and you are the only contributor then write to MF to remove the joint holder and update your Adhar.

Other wise surrender the mutual funds if there is no lock in period and open a new elss hope this elss payment you are doing for taxation purpose.

The PPF is also a venue to invest for.

1. Dissolution of marriage does not sever the joint status of the holdings. She cannot be removed as joint holder unless she releases her rights in your favour.

2. Unless both the holders make a joint application there can be no redemption.

Hello,

On the basis of the divorce decree you can request the concerned company or your broker to remove the name of your ex- wife from the ELSS Scheme.

There must be a procedure through which the name of the joint holder can be removed. Get an update about this procedure from the company or the broker. If they are not able to help you then file a declaration suit and then the company will have to remove her name as joint holder.

Regards

Hi, since you are divorced and you don't want to submit the aadhar card number to the Mutual Fund scheme, it is suggested that you file an application with the authority of concerned mutual fund and request them remove the name of your ex-wife from the scheme. For this purpose, write an application and submit it along with the an affidavit stating that you have taken divorce from wife and also attach the court order/decree.

Dear Client,

In case of joint holding by Husband and wife and husband is the first unit holder and wife is a second unit holder and there is a divorce and the wife can puts a claim and the matter might land up in court, so fund houses are cautious for deletion of name.

You can't change or add new names of unit holders. Even deletion of names can happen only on death of the investor. However, if the units are held in the demat mode, an off market transaction can be carried out to another demat account with different holding names.

Though you both are legally divorced and living separately away from each other, such things do not know the law involved in it.

The law for the jointly held mutual fund is that both shall jointly withdraw the same and not that one shall take it without the knowledge of the other.

So you have no option than to contact her and ask her to submit the aadhar card details and after wards to withdrawal of the same jointly.

For any reason you cannot remove her name until she is not living anymore