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Transferring ownership of share certificates

  • 10-12-2012 11:55am
    #1
    thewiseowl12
    Registered Users, Registered Users 2 Posts: 171 ✭✭


    Hi,

    I have recently bought shares on behalf of a family member and wish to transfer the certificates into their name - I have the paper certificates to hand.

    Could anyone please advise on the protocol for doing so and whether there is a fee? Is it just a case of filling in the form on the back of the share certificate and sending it off.

    Many thanks.


Comments

  • #2
    ravima
    Registered Users, Registered Users 2 Posts: 848 ✭✭✭ravima


    Why did you not buy them in their name(s)?

    You will probably need to use a broker. You might be able to do the transaction yourself, if you phone the registrars - their details should be on the share cert.

    You will have to pay stamp duty (again) and there may be CGT payable by you if you have made a profit or CAT by new owner, if this is not a genuine sale.


  • #3
    thewiseowl12
    Registered Users, Registered Users 2 Posts: 171 ✭✭thewiseowl12


    The reason that I made the purchase is that I have a stockbroking account whereas my family member has none and wished to purchase a small number of shares in Bank of Ireland. I'm not sure any company offer once off transaction fees anymore or if they do they are around €100? And I think BOI don't offer the facility of buying in a branch.

    The rationale was that the cost would be €20 (td waterhouse fee) + €25 (turning nominee into paper certificates) thus a cost of the once off purchase of €45 if I purchased, pending a fee for transferring share ownership.

    I didn't think it was possible (legal) to use your account to purchase shares in the name of another person, or have I taken your comment up wrong?

    Thanks


  • #4
    ravima
    Registered Users, Registered Users 2 Posts: 848 ✭✭✭ravima


    If you have paper certificates, then contact the registrar who might be able to assist.


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