legal transfer

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Legal transfer

A stock transaction that requires special documentation in addition to standard stock or bond power to be legally valid.

Legal Transfer

The transfer of a security that requires extra documentation. For example, the sale of a security by the estate of a dead person may require the executor of the estate or someone else to submit a death certificate in addition to the security's own certificate. In this case, legal transfer ensures that the executor has not stolen the security from the deceased.

legal transfer

The transfer of a registered security when more than an endorsed bond or stock power is required for legal change of ownership. For example, transfer of securities registered to a deceased person usually requires submission of a death certificate.
References in periodicals archive ?
Aside from combating the risk of diversion, however, there is a second reason why legal transfers must be controlled.
There has been some resistance to including controls on legal transfers within the scope of the UN conference, which specifically defines "illicit" small arms as its focus.
The report is especially helpful in reinforcing the notion that "illicit transfers" are not confined to "illegal" transfers, but include legal transfers that create excessive and destabilizing accumulations.