Transfer for the Purpose of Dividing the Joint Ownership of Securities

This transfer is conducted between the owners of joint securities from the name of the joint owners to the name or names of the individual joint ownership owners.

Persons benefiting from the service

Joint Owners.

Conditions of obtaining the service
  1. The shares must be free and deposited in the central registry, and in case the shares are in the investor's account maintained by the broker, they should be transferred to the central registry before executing the transfer process.
  2. The presence of all joint owners or their legal representative to approve expressly the transfer through duly signing the transfer form in front of authorized SDC employee.

 

Required Documents
  1. Copies of valid identification documents of the joint owners.
  2. Copy of the death certificate, inheritance deed, and quittance certificate for the deceased issued by the Jordan Income and Sales Tax Department if anyone of joint owners was deceased provided that it does not include a phrase that is not suitable for transferring ownership of shares and/or the securities. 
  3. If anyone of joint owners were deceased, the division is conducted by the presence of all inheritors or their legal representative that is authorized to divide the joint ownership to sign the transfer form in the SDC, in case there are minors among inheritors, their guardian should provide the SDC with the proper permission by the competent courts to divide the joint ownership.
  4. Addresses for each of the joint owners.
  5. If the transfers are conducted by virtue of a power of attorney, the power of attorney must expressly state the agent's authorization to divide the joint ownership and assign the securities necessary to rectify the number of shares between the joint owners.
Procedures
  1. The concerned person or his legal representative must submit the Securities' Ownership Transfer Form to the SDC.
  2. The concerned employee verifies the personality, eligibility and satisfaction of the transfer parties.
  3. The concerned employee verifies the ownership and performs the transfer as described in the submitted form.
  4. The concerned employee collects the fees for executing the transaction.
  5. Print the transfer notice, stamp it with the SDC's seal, and deliver it to the investor.
Estimated Time

60 minutes.

Location

Headquarter of the SDC

Partner institutions

None.

Estimated Fees

The SDC shall collect commission (0.002) two per one thousand of the share's market value, minimum of (250) two hundred and fifty files for each contract.

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