TRANSMISSION OF SHARES
Transmission of Shares refers to the process of transferring ownership of shares from one person to another due to various circumstances such as inheritance, death, or court orders. Our dedicated services ensure a smooth and efficient Transmission of Shares, handling all the necessary paperwork, legal requirements, and coordination with relevant parties, allowing for a seamless transfer of ownership while minimizing complexities and ensuring compliance with applicable regulations.
TRANSMISSION OF SHARES
IN CASE OF DEATH
OF SHAREHOLDER
The word “transmission” is defined as the passing of a property /asset by operation of law. In the case of the death of a shareholder, the process of transfer of ownership / right of shares to the legal heirs or successors is called as Transmission of shares. If a person dies and leaves a Will, it is referred to as testamentary succession. However, if a deceased person did not leave a will, it is called intestate succession. In the case of testamentary succession, the legal heirs must turn to the competent courts to obtain the probate of the will. In the case of intestate succession, a certificate of inheritance must be applied for at the court in which the deceased had his or her permanent residence which is referred to as the Succession Certificate.
How Will We Help You In Transmission Of Shares:
The terms "transfer" and "transmission" are often used in the context of shares, but they refer to different processes:
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Transfer of shares:
- Transfer of shares refers to the voluntary transfer of ownership from one person (the transferor) to another (the transferee).
- This typically occurs through a sale or gift of shares, where the transferor initiates the transfer by executing a valid share transfer deed and delivering it to the company or its registrar.
- The company then updates its records to reflect the new ownership and issues a new share certificate to the transferee.
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Transmission of shares:
- Transmission of shares, on the other hand, refers to the transfer of ownership that occurs by operation of law or due to specific circumstances such as death, insolvency, or court orders.
- In a transmission, the transfer of shares is not initiated voluntarily by the owner but occurs automatically or as required by legal processes.
- The transfer of shares in a transmission scenario is governed by applicable laws and regulations, and the legal heirs, executors, or administrators of the deceased or insolvent shareholder typically undertake the necessary steps to establish their ownership and request the transfer of shares.
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In summary, while the transfer of shares involves a voluntary change of ownership initiated by the transferor, transmission of shares occurs automatically or as a result of specific legal circumstances without the need for the previous owner's initiation.
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