Nominee
Reviewed by FOLO Editorial · Last reviewed August 6, 2026
A nominee is the person named to receive a financial holding, such as a demat account, mutual fund folio or bank account, after the account holder's death. A nominee is a custodian of the asset, not automatically its legal owner.
Legal ownership is decided by the will or, in its absence, by succession law. This is why a nominee and the beneficiary named in a will can be different people, and why the will generally takes precedence over the nomination.
Written and reviewed by FOLO Editorial. Educational content, not investment advice.