Wednesday, April 09, 2008

Transfer of shares on death of shareholder

Hi Mr. Tan,
I need your advice. My father has passed away more than 10 years ago. He holds the shares of a specific company on SGX. May I have your advice in how to go about having the shares transfered to my mother or myself? I understand in the past, usually a share certificate is required but then after so long, we did not know where is the share certificate. SGX now practices scripless policy.

The shares were registered in the name of your father. If your family has applied for letters of adminstration or probate of a will, the administrator or executor can take over the shares of your deceased father and distirbute it as part of the estate.

If this process was not done, you can apply for the letter or probate now. It should cost a few thousand dollars. I hope that the value of the shares are worth much more. Ask a lawyer.

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