You can redeem your share at the net asset value of the mutual funds at the close of business and you can be sure of getting paid within seven days. (myfinancekits.com)
The investment return and principal value of mutual funds will fluctuate, and shares, when sold, may be worth more or less than their original cost. (wellsfargo.com)
The market value of the mutual fund upon removing your mother's name would then become your new cost base for your own capital gains tax purposes. (moneysense.ca)