Can I use my mothers` demat account to purchase shares on my name?

Question

I am not a joint account holder but know the password.

Answer 1

No, you cannot. Either you have to get your own demat account opened or you can purchase the shares on your mother's name.

Answer 2

You cannot buy shares in your name in someone else's account. However, your mother can buy shares in her name and then have them assigned to you. This can be done by opening an account in your name & transferring the shares (kind of defeating the purpose of having her do it) or by taking possession of the shares and handing them to you (in which case she may need to file some paperwork).

Why not just open your own account?