Register an inheritance or a gift
An inheritance or a gift is registered like a sale and purchase, from "Add Operation", choosing "Inheritance" or "Gift". The form is the same, also for "Endorsement" and "Transfer"; only the names of the parties and of the quantity change. The "Price per share" is required here too, and the numbering of the shares travels with them.
Before you start
- The document that evidences the transfer: the deed of acceptance and allocation of the inheritance, or the deed of gift.
- Who transfers and who receives. In an inheritance, each heir with their name and tax ID.
- Which shares each one receives, with their class and their numbering. The deceased's or the donor's numbering is in the register of registered shares.
- The value per share you're going to enter in "Price per share", which the form asks for even though nobody pays.
The parties to each operation#
Inheritance, gift, endorsement and transfer are, like a sale and purchase, operations in which the shares already exist and change owner. The form is the same; what changes is what the two parties and the quantity are called:
| Operation | Who hands over | Who receives | Quantity |
|---|---|---|---|
| Sale and Purchase | "Selling shareholder" | "Buying shareholder" | "No. of shares sold" |
| Inheritance | "Transferring shareholder" | "Inheriting shareholder" | "No. of shares transferred" |
| Gift | "Donor shareholder" | "Shareholder receiving the gift" | "No. of shares donated" |
| Endorsement | "Selling shareholder" | "Shareholder receiving the endorsement" | "No. of shares endorsed" |
| Transfer | "Transferor shareholder" | "Acquiring shareholder" | "Number of shares transferred" |
How to do it#
- Open the form. In Transactions, go to "Transactions List", click "Add Operation" and choose "Inheritance", "Gift", "Endorsement" or "Transfer".
- Fill in the document. The "Date", the deed in "Add document (optional)", "Comments" and the notary details: "Notary Name", "Protocol Number", "Notary Town" and "Deed Date". Click "Next".
- Choose the parties and the class. Who hands over, who receives and the "Share Class". Below you see the "Available ranges" of the person handing over, encumbered and free of encumbrances.
- Enter the shares. The quantity, "From no." and "to no.". Click "Validate range": Sttok checks that those shares belong to the person transferring them.
- Enter the price. The price is required in an inheritance or a gift too. In "Price Type" you choose how you enter it: per share, by the company's valuation or by the total amount of the operation.
- Save each movement and register. "Save movement" takes the transfer to the list. With several heirs, one movement per heir, each with their part of the numbering. At the end, "Save Operation" registers the whole thing, just like in a sale and purchase.
An inheritance not yet divided. If the heirs haven't yet been allocated the shares, they remain held in common: the shares belong to all of them at once. That isn't registered as a transfer to each one, but as a co-ownership. See encumbrances on shares.
What happens next#
- The operation appears in the Operations list with its type.
- The register of registered shares moves the shares to the name of whoever receives them, with the same numbering they had.
- The person handing over and the person receiving see it in the Transactions tab of their record.
Frequently asked questions#
What do I enter as the price?
In an inheritance or a gift nobody pays for the shares, but the "Price per share" is required: without it the movement isn't saved. Enter the value stated in the deed, for example the one declared for tax purposes.
What if the deceased held shares of several classes?
Register one movement per class, each with its numbering. The numbering of each class is the one in the register of registered shares.
Do encumbrances pass to the heir?
Yes. An encumbrance goes with the shares, not with the person: a pledge or a usufruct on those shares is still there after the inheritance or the gift.
Related
- Register a share transfer (sale and purchase) A sale and purchase is registered from "Add Operation" › "Sale and Purchase". In the first step you enter the date and the deed details; in the second, each movement: who sells, who buys, the class, how many shares, their numbering and the price. Each movement is saved to the list and at the end you click "Save Operation". With "Sale and Purchase AI", Sttok reads the deed and proposes the details to you.
- Register an operation: what each type asks for Every operation is registered from "Add Operation", on the Operations screen. The first step is almost the same for all types: the date, the document, the comments and the notary details. What changes is the second, because each type does something different to the share capital: create or cancel shares, change their owner, distribute money, reorganize them or exchange them for shares in another company.
- Encumbrances on shares: usufruct, pledge, co-ownership and option An encumbrance is another person's right over some shares: a usufruct, a pledge, an attachment or a call option. Co-ownership is recorded in the same place even though it is not an encumbrance: the shares belong to several people at once. In Sttok each one is recorded against the specific shares it affects, with its dates and its status, on the shareholder's profile.
- A shareholder's Transactions tab The Transactions tab on a shareholder's profile lists the operations they have taken part in, with their type, date, amount and the shares that came into or left their position, and below that the dividends they have received. It is their part of each operation, not the whole operation.