Hassle-free Share Transmission with GLC Wealth
In the event of marriage, death, inheritance, bankruptcy, or insolvency, problems often arise with the Share transmissions. Without the help of a sound legal and financial firm, it can be impossible to get such shares back.
What is Share Transmission?
Share transmission means the Share transmissions by operation of law. It allows shares to be transferred into the name of the legal heir after the death of an actual shareholder.
For the legal heir, the transmission of shares can be problematic for the following reasons
- Death
- Insolvency
- Insanity
- Marriage
- Inheritance
- Bankruptcy
- Other legal reasons than natural transfer
What problems can arise during Share Transmission?
Share Transmission is a cumbersome process that can affect your daily life. Without proper professional guidance, you will not be able to complete the transmission of the share process. GLC Wealths provides its clients with the transmission of share assistance they need.
Without GLC Wealth as your professional advisor, you may face the following challenges
Incorrect understanding of the concept of shares
Most shareholders often confuse the terms ‘Transmission of shares’ and ‘transfer of interest’. The Indian Companies Act successfully highlights the key difference between ‘ Share transmissions’ and ‘transfer of interest’.the ‘ Share transmissions’ depends on the decision and action of the shareholders, while the ‘ Share transmissions’ is the result of the application of the laws. Shares can only be transferred by will or inheritance, but not by mere will. In contrast, the ‘ Share transmissions’ does not always require special consideration.
Multiple shareholdings in different companies
Shareholders often have multiple shareholdings in different companies. If you want to complete the transmission of share process, you will need to submit the following documents to each of these companies or financial institutions.
You will also need to familiarise yourself with the various policies of these companies.
Required Documents
- Certified copy of death certificate
- Certificate of executor or certificate of probate or deed of administration
- Specimen signature of the legal successor(s)
- Submission of an application for Share transmissions by the legal heirs, nominees, or their representatives
GLC Wealths ensures a smooth transmission of shares from any company without any complications.
Jointly held securities
Another major issue faced by shareholders in transferring shares is when they are joint holders of jointly held securities. If you are one of the joint security holders of such shares, GLC Wealths can help you with this.
In the case of jointly held securities, a solid legal and financial firm will help you clear the name of the other shareholders. This may happen by operation of law if the other shareholder dies, or it may happen if you voluntarily seek to transfer the shares.
