Probate granted - banks, building society and stocks

Henrta

If probate is granted do banks, building societies or stock holders have any right to charge for transfer of control to another, once probate has been given and all debts incurred unrelated to the passing of the predeceased are settled?

Thanks in advance.

RAS

If you are asking them to make CHAPs transfers, sell or transfer stocks, property,  normal fees apply.

Probate allows the executor or administrator to sell and relocate assets and settle debts. It doesn't transfer ownership.

kipsterno1

It depends on the T&C's. Transferring shares, especially paper certificates, can often attract a fee.

tetrarch

kipsterno1 said:

It depends on the T&C's. Transferring shares, especially paper certificates, can often attract a fee.

You should be able to transfer paper certificates for free. You just need to send the appropriate Stock Transfer Form with the certificates, plus an official copy of the probate  to the relevant registrar and they should return new certificates without charge

Regards

Tet

Henrta

Thanks for the replies