Apart from sole ownership of your mutual fund investment, you can also have joint ownership, provided all investors are KYC-compliant. In a joint ownership, all investors have equal rights and authority to purchase or redeem units. For any transaction, the approval of all the investors is required. There can be a maximum of three investors in a joint ownership. 'Anyone or survivor' is another mode of joint ownership, but here the investors can freely transact in the mutual fund. Joint ownership can be useful for succession planning as the mutual fund units are transferred to surviving joint owners after the passing away of any one of the owners.