- Navigate to My Business > Cap Table tab > nested table and click the “…” icon next to the shares you would like to transfer, and then click on Transfer Securities.
- Enter information in fields and click on Transfer Securities.
When the transfer request is sent, the Transfer Securities menu item becomes disabled until the response — Accept or Reject — from the Investor-recipient is received.
If you need more information, please read the detailed answer below.
As its own transfer agent, an Issuer may sometimes be required to approve the transfer of ownership of the securities to another person. This can arise, for example, when the investor passes away and the estate inherits the assets.
On the iownit platform, the authorized person of the Issuer can, upon receipt of appropriate legal documents — court order or other binding documents — transfer securities to another person.
Pre-conditions for transferring securities
Before transferring securities, the Issuer is notified by the platform personnel and receives required legal documents.
To transfer securities, please follow the steps below:
- Navigate to My Business > Cap Table tab > nested table and click the “…” icon next to the shares you would like to transfer, and then click on Transfer Securities.
- In the Transfer Securities dialog that appears:
-
- Select a reason
- Select Effective Date (the date of legal decision)
- Upload legal documentation specifying transfer requirements
- Enter Price (please keep in mind that the iownit platform is not involved in the valuation process. It is the Issuer’s responsibility to set the correct price per security to allow the recipient to establish a tax base. The issuer would need to have this information either via current market trades or recent valuation.)
- Specify Recipient(s) information: First Name, Last Name, Account Number, Portfolio ID (for Individual Investor) or Fund Name, Fund ID (for Institutional Investor), and Quantity
- Click the Transfer Securities button
When the transfer request is sent, the Transfer Securities menu item becomes disabled until the response — Accept or Reject — from the Investor-recipient is received.
Post-transfer
Accredited Investor:
An active Accredited Investor is able to hold or sell the security if the security is not restricted on the Secondary Market, and receive dividends from the transferred asset.
Non-Accredited Investor (legal age):
A non-Accredited Investor is able to sell the unrestricted security on the iownit platform’s Secondary Market.
