How to transfer old share certificates in physical form to demat account

economictimes.indiatimes.com:

A year ago, my father made a will, naming all the family members as beneficiaries to his property. A few months later, he made another will, wherein his spouse was named the sole beneficiary to the entire property. He then availed of a reverse mortgage loan (RML) against this property. My father passed away recently. As the property is now mortgaged, does the will, which was executed before the RML, hold good as far as clearing the loan obligation is concerned? Even in RML documentation, a will is executed stating that his spouse shall enjoy the property rights. We (the children) are in a dilemma about getting it shared as one of us has a vested interest. Rajat Dutta, Founder, Inheritance Needs Services: Your father made a will, which was later changed in terms of beneficiaries.

Subsequently, during his lifetime, he got a reverse mortgage loan on his property. On his demise, as per the terms of RML, the outstanding amount needs to be paid to the lender by the beneficiaries/heirs. After the receipt of the outstanding amount, the lender will release the mortgage, making the property encumbrance-free for the concerned beneficiary as per the will.

In case a situation arises, wherein the designated beneficiary of the property (as per the recent will) is unable to meet the liability under RML due to paucity of funds, the lender sells the mortgaged property as per the terms of the RML. After recovering the dues, the lender hands over the surplus amount collected from the sale to the designated beneficiary in accordance with the probated will. The latest will, written before the testator’s demise, is considered to be the valid will, unless it is proved to have been made under suspicious circumstances.