legal transfer(redirected from Legal Transfers)
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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.
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.