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Co-owned Share of stock

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1 Co-owned Share of stock on Fri Sep 28, 2012 12:05 pm

leothomasm


Arresto Menor
Hi there!

I'm not sure if this situation falls under this thread but here goes...

My father passed away a few years back. I recently found out that he has a share of stock in a certain golf club in Rizal. I looked for the stock certificate and found it to be under his name AND my mother's name, accompanied by a copy of the previous absolute deed of sale to them from the developer and doc stamp tax declaration.

My mother is still living. Would a death certificate of the co-owner (which happen to be her husband) be enough to make her the sole owner? If she decides to sell it, could she transact the selling of the share as she is the co-owner of the said share? Or is it more complicated than it may seem?


Many thanks in advance.

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2 Re: Co-owned Share of stock on Tue Jan 08, 2013 3:28 pm

NorwelLabog


Arresto Menor
This falls on inheritance.

There should be estate tax on your father's properties. The payment of estate tax is one of the requirement in the transfer of ownership of the stocks.


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