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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
The Europeanisation of law, as a legal transfer method leads to the birth of a European procedural law that is imposed, on the one hand, by the need to establish and maintain equal social peace at a European level and, on the other hand by a certain attraction between legal cultures as well as an attempt to ameliorate the differences between the legal systems.
This is especially so where the priority rule dispute is between a prior unperfected legal transfer of an account and a subsequent perfected transfer of the account.
B Prior Unperfected Equitable Transfer with Notice to Account Debtor I Subsequent Unperfected Legal Transfer with Notice to Account Debtor
Canadian authority suggests that a subsequent perfected security interest over an account has priority over the prior unperfected statutory legal transfer of the same account.
Aside from combating the risk of diversion, however, there is a second reason why legal transfers must be controlled.
* all states should exercise restraint in the legal transfer of surplus weapons, and should consider the destruction of surplus weapons (para.