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Movement of CDC shares into broker account for selling

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9 replies to this topic

#1
Talha Masood

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    Hi,
    My mother has a joint CDC investor account with my sister, which contains certain shares that she wants to sell. How can she sell those shares thats what I want to know? I have a broker account with KASB with my name which I use for my regular trading. My broker has advised me to get a gift deed made in my favor that will transfer shares from my mothers's account to my CDC account.

    I was wondering if there are any alternatives to gift deed method or is there any otherway she can sell those shares with gift deed?

    Thanks.


    #2
    nafisaa

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    View PostTalha Masood, on 28 April 2014 - 03:42 PM, said:

    Hi,
    My mother has a joint CDC investor account with my sister, which contains certain shares that she wants to sell. How can she sell those shares thats what I want to know? I have a broker account with KASB with my name which I use for my regular trading. My broker has advised me to get a gift deed made in my favor that will transfer shares from my mothers's account to my CDC account.

    I was wondering if there are any alternatives to gift deed method or is there any otherway she can sell those shares with gift deed?

    Thanks.
    she can just give u cheque of securities which u can deposit in ur account

    #3
    Talha Masood

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    View Postnafisaa, on 28 April 2014 - 03:50 PM, said:

    she can just give u cheque of securities which u can deposit in ur account
    Thanks for very quick reply ... but is it that simple :o I mean she just sign a CDC cheque in my favor and I deposit it in my CDC sub-account w/ my broker? then why did my broker advised the path of gift deed?

    #4
    Salim

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    You can open an account with your broker in your mothers name and then transfer to the shares in this account and sell the same.

    #5
    Mansoor

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    View PostTalha Masood, on 28 April 2014 - 03:42 PM, said:

    Hi,
    My mother has a joint CDC investor account with my sister, which contains certain shares that she wants to sell. How can she sell those shares thats what I want to know? I have a broker account with KASB with my name which I use for my regular trading. My broker has advised me to get a gift deed made in my favor that will transfer shares from my mothers's account to my CDC account.

    I was wondering if there are any alternatives to gift deed method or is there any otherway she can sell those shares with gift deed?

    Thanks.


    As per my info Gift deed is better option, otherwise there is long process and also charges.

    Also opening an account by your mother name and submitting CDC shares there seems a good option too.
    **********


    Posted Image

    #6
    nafisaa

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    View PostTalha Masood, on 28 April 2014 - 04:01 PM, said:

    Thanks for very quick reply ... but is it that simple :o I mean she just sign a CDC cheque in my favor and I deposit it in my CDC sub-account w/ my broker? then why did my broker advised the path of gift deed?
    yes
    mene to aisay hi kerwaya tha.
    gift deed sub account se sub account me move kernay k liye behtar rehta hay but wo process lamba hay. cheque ka process shortest hay.

    Edited by nafisaa, 28 April 2014 - 06:35 PM.







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