Joint shares into single name

74jax

My brother and I were left shares by our dad several years ago. These were put into joint names. (Lloyd's, British gas and bt).

We are a few years on and both want the shares in our own names.

Several calls later, we were told saying to write what we wanted which we did and posted off. We received a letter saying to go online and download the form we need. But it didn't say what the form was.

What is it we need please? We are totally new to this. It seems easier just to sell the shares and split the money. But we'd like to keep them.

Say we had 100 shares in Mr X and Mrs X name. How do we each get 50 shares. Does Mr X transfer 50 to Mrs X, or do both Mr X and Mrs X transfer 50 to Mrs X. IE 2 transfer forms for each company.

Or is there a form to just split?

So sorry if this doesn't make sense, as it doesn't to us so very hard to get our heads round.

Matthew2018

I think that you will need to get on the phone again. Get them to tell you exactly which form to use.

74jax

Matthew2018 wrote: »

I think that you will need to get on the phone again. Get them to tell you exactly which form to use.

Thank you. I have just managed to speak via the online chat. For two of the company shares I fill out a stock transfer form and for the other company I fill out a corporate nominee form A.

Not sure why it's different forms but I have the forms now.

Just to update also, it's 6 forms in total. Both of us transferring to me, both of us transferring to brother (for each of the companies).

Matthew2018

That's good, all systems go. It's amazing how complicated the seemingly simple has to be.

74jax

I just wanted to add that the forms we were told to fill in have been sent wrong as the wrong ones so we are now back to where we were 2 years ago.

I'm only updating incase someone was reading this thinking what I posted was correct, when it sadly wasnt (again)....

kidmugsy

Odd, isn't it, how much simple god-awful incompetence there is in the financial world? Can part of the explanation be that most employees are bored stiff most of the time?

74jax

kidmugsy wrote: »

Odd, isn't it, how much simple god-awful incompetence there is in the financial world? Can part of the explanation be that most employees are bored stiff most of the time?

I really don't know. This is the 3rd time now forms have been returned even though I only fill in what they send.

My brother and I are now thinking of just selling them and splitting the money.

MallyGirl

A question for you.
If someone gave you the cash that these shares are worth - would you go out and buy these particular shares? If not, then selling them is the simplest way forward

74jax

MallyGirl wrote: »

A question for you.
If someone gave you the cash that these shares are worth - would you go out and buy these particular shares? If not, then selling them is the simplest way forward

I think I will rebuy with my share as I don't see it as my money I'm gambling with if that makes sense.


My Dad left them to us and so I am quite happy to just let them sit there - gaining or losing - as I don't need the money.


I don't think my brother would, he'd just keep the money I am sure.