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 ?
However, Mr Alam said the MK Pakistan should not have established the fish harbour before legal transfer of the land.
In receiving states, legal transfers can modify the notion of state of law or non-state social institutions, or in case of certain developing states, they may be implemented in the supreme law of the state, being superimposed on indigenous juridical structures.
Giorgi Margvelashvili is a member of Mr Ivanishvili's Georgian Dream party, which won parliamentary elections last year, ushering in the former Soviet republic's first legal transfer of power.
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.
The legal transfer of the business takes place today but actual implementation is expected to require a transition period of up to three months.
Nasheed's deputy, Mohamed Waheed, assumed the presidency in what the former government initially described as a "coup" but which has since been judged a legal transfer of power.
"We don't believe there has been a legal transfer of title," Menaged said.
Another prominent factor that led to a drop in share of the sector was the stuck up privatization proceeding of $800 million payment by Etisalat due to a dispute with the government of Pakistan over legal transfer of land and property titles.
Customs and Border Protection was sufficiently staffed to handle the legal transfer of manufactured goods and Mexican nationals at Texas ports, he says, the economies would do even better.
It involves a duly qualified conveyancer/solicitor completing the legal transfer of ownership between the various mortgage related parties.
The men used a method of money laundering known as 'cuckoo smurfing', where criminals disguise the proceeds of crime as legitimate cash intended for legal transfer between bank accounts.
Abu Dhabi Commercial Bank ("ADCB"), today announced the legal transfer of the retail banking and SME business of RBS in the UAE to ADCB, following a smooth cut-over of the acquired business in the early hours of Friday, October 1, 2010.