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 ?
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.