Stock Assignments

Legal “assignment” is the transfer of an individual’s rights or property to another person or business. Essentially, assignment is the transfer of ownership. An example of an assignment agreement is when a person sells his or her car, thereby “assigning” the title to another. If you are moving stocks to a living trust or assigning them to an organization or to an individual, you’ll need to do it with the legal assistance of an experienced Orange County stock assignment attorney at the Citadel Law Corporation. An experienced stock assignment attorney will be familiar with stock assignment contracts and with stock assignment contract law, so you may be certain that your assignment of stock is a legal contract in full compliance with federal and state law.

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A stock assignment contract can operate in several ways, depending upon whether the securities are held by you or by your securities broker, or if you’ve invested in a mutual fund. A stock certificate must be assigned through a contract of assignment, which must be sent to the transfer agent – a person or company responsible for keeping track of the securities issued by a corporation or government – along with the stock certificate. If the stock is publicly traded – that is, bought and sold to the public through a stock exchange – the stockholder’s signature must be guaranteed on the assignment document by a commercial bank or by a stock brokerage firm. Such a guarantee is comparable to having the signature notarized.

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The assignment of brokerage accounts is handled by sending a request to your brokerage firm. The firm will need documentation of the trustee’s powers to deal with securities. Similarly, most mutual funds firms require your guaranteed signature on a letter requesting assignment. The stock assignment attorneys at the Citadel Law Corporation offer experienced legal guidance. Contact an experienced Orange County stock assignment attorney at the Citadel Law Corporation to discuss your legal needs. Call 949-852-8181 to schedule an appointment with an attorney today.