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Private Transfer of Shares
Joseph Smith
Posted: 11 February 2013 22:14:09(UTC)
#1

Joined: 11/02/2013(UTC)
Posts: 2

Could one of the nice people here please give me a guide to how to transfer some shares privately?

Example:

I buy some shares privately from someone.

What do I need from them to transfer the shares to my name?

Would a written contract outlining the transaction and signed by both parties be sufficient? If so, who and where would I send it to complete the transfer?

Would you need a solicitor or similar for the above? (prefer not to for the added expense!)

If they have the original certificates do I need to send them off somewhere?

If they have lost some of the original certificates (they may have been replaced with electronic certificates but unsure) would this complicate matters?

How long does it take for the share transfer to complete?

Sorry if these questions sound stupid to anyone but I have never dealt with stocks and shares before and am really clueless. I would have thought there would be more info online regarding this but can't find and UK based answers anywhere (all mostly US).

Many many thanks in advance to anyone who takes the time to help me out with this.

Regards

P.S. I have seen somewhere online that I may need a SRN (Security Reference Number) from the other party but couldn't be sure if this was Australian or UK advice!


Roger Lawson
Posted: 14 February 2013 14:18:13(UTC)
#2

Joined: 31/05/2011(UTC)
Posts: 20

Was thanked: 1 time(s) in 1 post(s)
You need to complete a "stock transfer form". The company's registrar can explain the procedure and probably supply such a form. You don't need a solicitor to do it. But stamp duty is payable to the Stamp Office on such transfers.

That applies of course if the shares were originally held in certificated form and the seller has the share certificate.

If the shares in a nominee account then it's more tricky. You probably need to get them turned into certificated form and then do the transfer.

Roger Lawson, ShareSoc
Andrew Lem
Posted: 14 February 2013 14:53:42(UTC)
#3

Joined: 26/09/2012(UTC)
Posts: 1

Transferring the shares should be relatively easy. For each share you will need a share transfer form which can be downloaded from the company website of the company listed eg BP goto www.BP.com. . Normally the transfer forms are located in a section usually titled "useful documents" or something similar. The location of this file will vary with each website and can be quite hard to find sometimes.
Just using BP as an example here is the location of the stock transfer pdf http://www.bp.com/liveas...P_Stock_Transfer_v5.pdf , which should be completed and sent to the registar of BP shares, in this case Capita Registrars, along with the original share certificate. If all is in order then a new certificate will be issued in your name.

Also located in the FAQ,s of BP, is a concise guide to transferring shares. If the value of the shares is below 1000 pounds this does simplify proceedings, above this figure you will need to pay stamp duty and a receipt of payment will need to accompany the share transfer document.
http://www.bp.com/sectio...&contentId=7070622.

chazza
Posted: 14 February 2013 20:15:16(UTC)
#4

Joined: 13/08/2010(UTC)
Posts: 126

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What is the procedure where A holds share in form 'A a/c B' because B was a minor at time of purchase, but is now an adult, and A wishes to have the shares re-registered in B's name alone?
Alan Selwood
Posted: 27 February 2013 14:43:18(UTC)
#5

Joined: 17/12/2011(UTC)
Posts: 759

Thanks: 93 times
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Chazza,

See Roger Lawson's advice above.

If you write to the registrar explaining exactly what you want to do, you should get a reply with a transfer form and guidance as to what to do (e.g. which box to tick on the 'reason for transfer'). If unsure, ring them up and ask what to do.
1 user thanked Alan Selwood for this post.
chazza on 27/02/2013(UTC)
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