What is a Transfer Indemnity Bond and how can it be used by the estate of deceased shareholders when seeking to transfer shares in public companies?
A. A Transfer Indemnity Bond is an unconditional guarantee issued by a financially sound institution which is willing to guarantee that the “Last Will and Testament” of a deceased shareholder is indeed a valid document and should be recognised by the public company. This guarantee allows the shareholding to be transferred without the need to obtain a Grant of Probate, Letter of Administration or a Reseal of Probate.
Related Questions
- What is a Transfer Indemnity Bond and how can it be used by the estate of deceased shareholders when seeking to transfer shares in public companies?
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