Header Graphic
Company Overview Marketing Benefit of Market Agency Advertising Benefit of Ad Agency Ad Creation Business Start Up Business Strategic Dev Business Organization Dev Website & Funnel Building Areas of Service Catalog Check Us Out Team Members Join Our Team
Message Board > Transmission of Shares
Transmission of Shares
Login  |  Register
Page: 1

transmissionofshares
1 post
Jul 01, 2024
8:06 PM 		----------
Transmission of shares refers to the process of transferring ownership of shares from one person to another without a sale or purchase transaction. This transfer typically occurs due to specific events or circumstances, such as the death of a shareholder, inheritance, or legal requirements. The primary objective of transmission of shares is to ensure that the rightful owner or beneficiary gains control of the shares. Here are some key aspects of share transmission:
Death of a Shareholder: The most common reason share transmission is the death of a shareholder. When a shareholder passes away, their shares need to be transferred to their legal heirs or beneficiaries as per their will or applicable laws of inheritance.
Inheritance: Share transmission often involves the transfer of shares to legal heirs or beneficiaries mentioned in the deceased shareholder's will. In cases where there is no will, inheritance laws and legal procedures determine how the shares are distributed among the heirs.
Succession Certificate: To facilitate share transmission after a shareholder's death, the legal heirs may need to obtain a succession certificate from a competent authority, such as a court. This certificate establishes their right to inherit and manage the deceased shareholder's assets, including shares.
Probate: If the deceased shareholder left a will, the process of obtaining probate from the relevant court may be necessary. Probate is a legal confirmation of the will's authenticity and the executor's authority to distribute assets as specified in the will, including shares.
Transfer of shares: The process of share transmission typically involves submitting the necessary documents and forms to the company in which the shares are held. These documents may include the death certificate of the shareholder, the succession certificate or probate (if required), and a request for transmission in the prescribed format.
Transfer of Shares: Once the company receives the required documents and verifies their authenticity, it updates its records to reflect the new ownership. The shares are then transferred to the name of the legal heirs or beneficiaries.
No Sale or Purchase Involved: It's important to note that share transmission does not involve the sale or purchase of shares; instead, it's a legal transfer of ownership. The shares are transferred at their current market value to the rightful owner(s).
Stamp Duty and Taxes: Depending on the jurisdiction and the value of the shares being transmitted, there may be stamp duty and tax implications. These should be considered and fulfilled as part of the transmission process.


Post a Message



(8192 Characters Left)

 

 

 

Real Estate Provider #515.000066/Fahim Muhammad Instructor #512.003026/Fahim Muhammad Managing Broker #471.020985    Freedom Financial Institute, IDOI Provider #500026517/NMLS Provider #1405073/Fahim Muhammad NMLS #1851084    All loans originated through Mortgage Loan Direct, NMLS #1192858    15255 South 94th Avenue, Suite 500 Orland Park, IL 60462. Freedom Apex Enterprise & Financial Services Mailing Address: 837 East 162nd Street, Suite 7-8 South Holland, IL 60473 708-704-7309/708-566-1222, 844-49-FREEDOM  

FINRA Broker Check

Disclaimer and Release  Nothing contained on this website constitutes tax, legal, insurance or investment advice, or the recommendation of or an offer to sell, or the solicitation of an offer to buy or invest in any investment product, vehicle, service or instrument.The information shared is hypothetical and for informational and educational purposes only. Such an offer or solicitation may only be made and discussed by a registered representative of a broker dealer or investment advisor representative of an investment advising firm.  You should note that the information and materials are provided "as is" without any express or implied warranties. Past performance is not a guarantee of future results. All investments involve a degree of risk, including a degree of loss. No part of FTAMG’s materials may be reproduced in any form, or referred to in any other publication, without express written permission from FTAMG and or its affiliates. Links to appearances and articles by Fahim Muhammad, The Freedom Coach, whether in the press, on television or otherwise, are provided for informational and educational purposes only and in no way should be considered a recommendation of any particular investment product, vehicle, service or instrument or the rendering of investment advice, which must always be evaluated by a prospective investor in consultation with his or her own financial adviser and in light of his or her own circumstances, including the investor's investment horizon, appetite for risk, and ability to withstand a potential loss of some or all of an investment's value. By using this website, you acknowledge that you have read and understand the foregoing disclaimers and release FTAMG and its affiliates, members, officers, employees and agents from any and all liability whatsoever relating to your use of this site, any such links, or any information contained herein or in any such appearances or articles (whether accessed through such links or downloaded directly from this website). FTAMG highly encourages its viewers and potential clients to obtain the independent advice and services of legal, financial, and tax professionals.

Securities offered through The Leaders Group, Inc. member FINRA/SIPC 26 West Dry Creek Circle Suite 800 Littleton, CO 80120 (303) 797-9080

info@freedomfinancialinstitute.orgCopyright© 2024 - Fahim Muhammad Freedom Financial Institute, Inc.

 

See the source image