Inheritance transfers

Inheritance transfers take place in the event of the death of the owner of the securities, as the ownership of the securities is transferred from the inheritor to his eligible heirs based on the inheritance transfer form submitted by the heirs or one of them or the legal representative for any of them.

 

Persons benefiting from the service

Heirs – Natural persons.

Conditions of obtaining the service

The securities owned by the deceased shall be free and deposited in the central registry at the SDC, in cases where it is maintained by a broker, the securities must be transferred to the central registry before executing the transfer process.

Required Documents
  1. The original or a certified copy of the inheritance deed or the Disassociation deed (general or specified).
  2. A copy of the death certificate and identification document of the deceased, in cases where it is not possible to provide an identification document, the death certificate suffices.
  3. A quittance certification for the deceased issued by the Jordan Income and Sales Tax department provided that it does not include a phrase that is not suitable for transferring ownership of shares and/or the securities.
  4. Copies of valid identification documents of all the inheritors.
  5. Address for each inheritor.
Procedures
  1. The concerned person or his legal representative must submit and sign the Inheritance Transfer Form in front of an authorized SDC employee.
  2. The concerned employee verifies the existence of ownership of the inheritor and performs the inheritance transfer according to the inheritance deed, which specifies the amount of the share of each heir.
  3. Fractions due to the distribution of shares and/or the securities trading unit shall be rectified by assigning the fractions to one or more of the inheritors, or through the assignment of an empowered inheritor in the case of the presence of an agent through a power of attorney that specifies the agents' right to waiver.
  4. The concerned employee collects the fees for executing the transaction.
  5. Print the inheritance transfer notice, stamp it with the SDC's seal, and deliver it to the heirs.
Estimated Time

60 minutes.

Location

Headquarter of the SDC

Partner institutions

None.

Estimated Fees
  1. The SDC shall collect a commission for the inheritance transfer as follows:
  • (0.0015) fifteen per ten thousand of the shares market value.
  • (0.0001) one per ten thousand of the market value of government bonds, bonds issued by public institutions and municipalities, and corporate bonds.
  • (0.0001) one per ten thousand of the market value of Islamic finance Sukuk
  1. The SDC shall collect the commissions mentioned in paragraph (1) above from one party with a minimum of (250) two hundred and fifty fils for each transfer deed.
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