How to inherit securities: step-by-step instructions

The procedure for registering rights to the inheritance of shares

Civil law establishes a general algorithm for accepting the property of a deceased citizen.

The following order must be followed:

the registered fact of the death of the testator;
a document confirming relationship with the deceased;
collection of documents;
confirmation from a notary of the authenticity of the documents provided;
entry into inheritance rights after six months.

Before starting the procedure, it is necessary to consult with a notary about such issues as how to register or confirm the existence of property, how to enter into inheritance rights and whether securities are present in the inherited property.

Inheritance of shares by law

According to Article 1152 of the Civil Code of the Russian Federation on the acceptance of an inheritance, the inherited property passes into the possession of the heir from the date of death of the testator.

The circle of certain and permissible successors according to Article 1141 of the Civil Code of the Russian Federation are called upon to inherit by law. Each of the legal successors receives an equal share of the property from the will.

The mandatory share rule should also be taken into account In accordance with Article 1148 of the Civil Code, inheritance of shares by law by incapacitated persons is mandatory.

Inheritance of securities by will

Some types of inherited property, by nature, require effective management. Otherwise they will lose their value. Therefore, the testator can formalize trust management of property.

Temporary managers can be:

a notary who draws up a will;
lawyer as a trustee of the testator;
guardian of the true successor until the age of majority.

The law determines whether shares are inherited. A joint stock company permits the transfer of a share of securities by way of succession. Heirs receive shares by inheritance for direct use if this is expressly provided for by the organization's Charter. To do this, you need to verify the existence of inherited securities. If their presence is undocumented, you should contact the registrar for such information.

Note! There is also a risk of violating the rights of the successor. In this case, time is of the essence. Registrars sometimes deliberately delay the process of issuing documents.

How to re-register shares by inheritance

You can inherit securities by law or by will. When inheriting by law, the principle of priority applies, when relatives receive the share of the deceased in accordance with the degree of relationship established by Art. 1142 – 1145, 1148 Civil Code of the Russian Federation.

To cancel the established order, the owner of the valuables can draw up a will. In the document, he stipulates what and in what shares passes after his death to relatives, friends, and legal entities.

The opening of the inheritance occurs on the day of the death of the owner of the valuables or his recognition as deceased in court.

Securities are, in essence, a complex of material and non-property rights and corporate obligations that goes to the heirs. The latter become participants in the joint stock company and can (Article 65.2, Article 1176 of the Civil Code of the Russian Federation):

receive dividends;
have access to the financial documentation of the company;
participate in the management and control of the activities of the JSC;
keep corporate secrets, etc.

The legislation does not focus on issues of inheritance of securities specifically, and does not separate procedures by type of joint stock company: public or non-public. Certain points are mentioned in Art. 149.2, 1176 Civil Code of the Russian Federation, Federal Law No. 208 dated December 26, 1995.

Therefore, in the general case, the standard procedure for accepting an inheritance is applied, and controversial situations are resolved in court.

You must declare your right and intention to accept the inheritance within 6 months after the death of the shareholder. To do this, the notary at the place of opening the case (at the last address of residence or registration of the deceased, location of his property, registration of the joint-stock company) is submitted:

application for acceptance of inheritance . It may include a request for a certificate;
passport or other identity document, for example, military ID;
agreement on the shared division of shares if several heirs apply - if available;
power of attorney for a representative;
written consent of the legal representative to accept the inheritance by a teenager 14–18 years old.

A notary does not have the right to demand all documents from a citizen when accepting an application so that they do not miss the 6-month deadline. However, later, when obtaining a certificate, you may be required to:

death certificate, including one issued by the civil registry office on the basis of a court decision that has entered into force declaring a citizen dead;
documents confirming the place of opening of the case (copy of the testator’s passport, an extract of their judicial act, registration certificate);
evidence of relationship with the deceased shareholder, for example, a marriage certificate;
will - if available;
documents on the quantity and quality of securities and their ownership by the deceased - if available;
documents confirming that other heirs are recognized as unworthy , for example, a court order depriving the rights of a parent.

The notary himself can request information about the number and type of securities from the registrar or depository - organizations that record rights to shares. They are obliged to provide him with information in accordance with Part 3 of Art. 1171 Civil Code.

Documents for receiving shares by way of succession

When inheriting JSC securities, the heir must promptly provide a package of documents.

Among the required papers:

death certificate of the testator;
extract from the place of residence of the last owner of the property;
a will and a document confirming the relationship of the heirs and the testator;
identity card of the legal successor;
an extract from the register of the joint stock company, and confirmation of the valuation of shares.

The ownership of shares is divided equally among the heirs, just like any other type of property. The division of values between heirs can be redistributed. This happens if the successor decides to sell or buy back the inheritance share.

Nuances of registration of inherited securities

In accordance with Art. 29 of the Federal Law “On the Securities Market”, the heir receives rights to named shares due to the provision of a credit entry from the personal account.

If registered shares are transferred before the death of the inheritor, the previous owner may reserve the right to re-register.

Information about the legal successor is entered into the register from the moment he provides documents on the ownership of securities. Thus, the heir becomes a member of the joint-stock company automatically after the death of the testator, or after the approval of the community of shareholders.

Transfer, re-registration and sale of shares of the testator

Shares of a joint stock company can not only be inherited, but also transferred to a third party.

Persons who are no longer married have the right to transfer part of the inherited property of their former spouse to themselves. If a marriage contract is signed, renewal is not possible. Individuals who are not married, but who are relatives of the person specified in the will, can transfer the share of property to themselves in the event of the death of the successor.

In order to re-register inherited property, you will need:

death certificate of the testator and heir;
provision of documents of relationship with the testator and legal successor;
certified copies of passport and documents from a notary;
opening a personal account for transfer of securities;
transfer of the package of collected documents to the registrar;
The registrar transfers ownership to the heir.

Transfer of inherited property to third parties is possible if all parties agree on the division of the inheritance. After receiving the rights to the valuables, the assignee can sell them or receive dividends. The sale of securities before the death of the owner without his consent is prohibited. If it comes true, the heir loses all rights to the securities.

How to re-register or register shares by inheritance

Since there is a time period of 6 months between the opening of the inheritance and its actual acceptance, there is no guarantee for the new owner that other members of the company will not carry out actions without his approval. The way out of the situation is to conclude a trust management agreement.

The document is concluded with the help of a notary. The potential owner determines a person - a trustee for a certain period. The latter disposes of the shares in the interests of the heir. This may be a capable citizen, a private entrepreneur, a commercial organization, but not the heir himself.

The expiration date of the power of attorney is the moment the new owner of the shares is entered into the register of shareholders.

An inheritance is a valuable property that is passed on to relatives after the owner’s death. Shares are income-producing securities, and therefore they are an integral part of the estate and can pass to one or more heirs after the death of the owner.

However, to carry out this procedure, it is necessary to follow certain rules, and in particular, for the legal transfer of rights, it is necessary to evaluate these securities, as well as a change of owner.

Shares can be received by the immediate family of the deceased upon inheritance by law. They pass along with the rest of the property, initially to the closest relatives, in case of refusal or absence thereof, to applicants with a different degree of relationship.

When inheriting under a will, they may go not to relatives, but to those persons whom the late owner indicated during his lifetime, at the time of drawing up the will.

A number of requirements are mandatory; without them, registration of inheritance is impossible. The right of inheritance becomes one of the most important points; without proving it, a person does not receive the right to property.

Also, to open an inheritance, it is important that the testator either died and had the relevant documents, or was recognized by the court as deceased. It is important that the heir is considered worthy - the opposite can be proven in court, and this fact excludes the right to inherit property.

Collecting documents and providing them is a must in matters of inheriting property, including shares. An application for a notary and a passport of the heir, a will, if there is one, is required.

A marriage or birth certificate is also required to prove relationship in the absence of a will. A registration document and a receipt for payment of the fee are required. This list of papers is usually enough to receive an inheritance.

Inheritance of company shares

Large or small property complexes are immovable property. The transfer of an enterprise by inheritance is carried out in accordance with Article 1178 of the Civil Code of the Russian Federation.

Heirs receive preferential rights if:

they have their own enterprise (registration as an individual entrepreneur);
a commercial organization is mentioned in the testator’s administrative act as a legal successor.

In the case where shares of an enterprise are inherited, their distribution among the heirs is carried out in accordance with the law.

If no one exercises the right of equal division of property, compensation is paid to those who received a small share of the inheritance . For example, an individual inherited securities of VTB Bank. Within six months, the heir needs to go through the procedure of registering an inheritance. Otherwise, the JSC will offer to buy out the share and sort the package of securities among its members of the company.

Inheritance of securities of foreign organizations

When inheriting foreign companies, the procedure for receiving an inheritance is different from the usual one. The transfer of securities of an enterprise located outside the Russian Federation is carried out according to the laws of the state where the company is organized.

You should pay attention to the nuances:

take into account the charter of the enterprise;
involve a notary and a lawyer;
formalize entrusted management to a third party;
accept succession and register a new shareholder.

In the latter case, the JSC does not have the right to refuse the heir to join the community of shareholders.

How to inherit securities: step-by-step instructions

According to Art. 82 of the Civil Code, a limited partnership is a commercial organization where, along with the participants of the partnership, there are several investors who do not take part in the management of the organization and its business activities.

The legal regime of the deposit bequeathed by the testator, even if there is a power of attorney for the deposits, according to Art. 1042 of the Civil Code, is determined by the participants of the partnership based on the volume of the contribution made - the value of the contributed property or the amount of funds and even business reputation or connections. Although initially such contributions are equal in value.

After the death of a person who is a depositor, his heirs acquire the right to his share. According to Part 2 of Art. 1176 of the Civil Code, the inheritance of an investor in a limited partnership includes his entire share in the capital of the partnership. By receiving this share, the heirs automatically - without any consent of the other participants - become investors in the partnership.

According to Art. 29 of the Federal Law “On the Securities Market”, only the person who is included in the register of shareholders is considered a shareholder of a JSC. Consequently, in order to acquire ownership of the shares, the heir must contact the registrar of the specified register, who will carry out the re-registration of the shares by inheritance.

The registrar can only be a specialized organization - a participant in the securities market. You can find it using the information contained in the extract from the register obtained at the request of a notary.

According to Art. 45 of the Federal Law “On Joint-Stock Companies”, the entry is made within three days from the date of application of the new shareholder.

When contacting the registrar, the first and main document on the basis of which changes are made to the register of shareholders will be a certificate of inheritance with a clear indication of the share of shares currently owned by the successor. In addition to it, the heir must transfer to the registrar:

passport or other identity document;
application for inclusion of a shareholder in the register;
securities certificates, if shares are issued in documentary form;
report on the assessment of the market value of inherited shares.

There is another important point in the procedure for re-registration of shares to an heir - according to clause 5.5.10 of FSFM Order No. 10-53/pz-n “On some issues of maintaining the register of securities owners”, the registrar has the right to refuse to carry out an operation in the register of shareholders, if the heir who contacted him did not pay or did not provide guarantees of payment for services in the amount established by the registrar’s price list.

In this matter, the state does not regulate prices for the services of securities market participants, therefore registrars have the right to independently set tariffs by entering them into their price list.

As monitoring of registrar websites has shown, the price range for services for making entries in the shareholder register is significant and can range from 10 to 50 thousand rubles for different registrars.

Taxes upon succession of shares

After full accession to inheritance rights, the new owner of the shares can dispose of the property in any legal way. But only after the period of registration and acceptance of securities has passed.

The position of the Ministry of Finance regarding the taxation of inherited shares is in favor of the heir.

Tax on the sale of shares received by inheritance after three years is not paid. Income tax is paid to the state by the heir if he receives dividends. It is not beneficial for a joint stock company to have a new member share, so at meetings this body, as a rule, deprives the heirs of the right to receive dividends.

Thus, the law establishes a special procedure for inheriting shares. The nuances are expressed in the procedure, documents and privileged rights to securities.

How to re-register shares inherited in 2021

Securities that belonged to a person are inherited after the death of the owner; to receive them, the heir turns to a notary.

He writes a statement of the established form and attaches documents to it:

death certificate of the owner;
documents confirming the testator's rights to the papers;
assessment of the market value of shares.

To confirm the right to inherit property, a person turns to the head of the joint-stock company to provide him with an extract from the register. If the document cannot be provided, the heir receives information in the Unified State Register of Legal Entities.

After carrying out the procedure for evaluating the securities, the notary carries out the correct conversion of the securities received under the will into cash.

When the notary carries out all the checks, the citizen is issued a certificate confirming the fact of his entry into the inheritance. The document is submitted to the registration control authorities to create a corresponding entry in the register. Only after completing all the above actions, the subject is considered the full owner of the securities, having the right to dispose of them at his own discretion.

It is possible to divide the inheritance if it concerns these acts. To begin with, the circle of subjects of inheritance is outlined, the type of documentation and shares are determined.

If the will does not explain to whom and in what amounts the property of the deceased person is transferred, it becomes common property. The entire circle of legal successors is making efforts to reach an agreement on the division of securities. This path is provided for in Article 1165 of the Civil Code of the Russian Federation.

Despite the application of the general procedure, inheritance of shares is associated with many features relating, in particular, to the organizational and legal form of the business. In the context of this, it is necessary to dwell in more detail on what types of joint-stock companies there are and what features are provided for the procedure for transferring shares to inheritance.

So, since 2014, according to Art. 7 of the Federal Law “On Joint-Stock Companies”, all joint-stock companies are divided exclusively into public (PJSC) and non-public (NAO) - the familiar CJSC and OJSC have been abolished, although they can still be found today.

At the same time, the legislator recognized the limited liability company (LLC): it also has its own characteristics, with which we will begin.

According to Part 1 of Art. 1176 of the Civil Code, the inheritance of a participant in a limited liability company includes shares in the share capital or property of this company. However, full ownership of the specified share or share may be limited, in particular, by the charter of the company.

Thus, receiving such a share by inheritance is possible if:

this is not prohibited by the LLC charter;
The shareholders of the LLC gave their consent to this (if such consent is necessary under the charter).

In this case, the successor becomes the owner of the share in the LLC from the moment the inheritance opens.

If the charter determines a ban on the transfer of rights to a share in the LLC or the company’s participants did not express unanimous consent, the share of the deceased passes to the company, from which the heir has the right to demand payment of the value of this very share, calculated for the last reporting period.

As already mentioned, the legislator divides joint stock companies into public and non-public. The only difference is that the company has the right to place its shares on the securities market for their acquisition by an unlimited number of persons; This does not fundamentally affect the inheritance process. So, according to Part 3 of Art. 1176 of the Civil Code, the inheritance of a participant in a joint-stock company includes shares that belonged to him on the day of death.

Is an IIS or brokerage account inherited?

The procedure for inheriting an individual investment or brokerage account is essentially no different from inheriting any other property, for example, an apartment or a car. It can be easy or more troublesome for the recipients of the inheritance, depending on how the testator disposed of the fate of his assets.

The ability to bequeath property in this way became available in 2019. The contract is a bilateral transaction between the testator and the heir. The heir knows in advance about the bequeathed assets and agrees to comply with all the terms of the inheritance agreement. For example, periodically transfer a certain pre-agreed amount or share to a third party. Without fulfilling this clause of the agreement, the transfer of funds in his favor will be impossible.

IMPORTANT! The testator may require the potential heir to fulfill the terms of the contract even before death or cancel the transaction.

In this case, they can instruct the notary to make inquiries of all intermediaries to find out whether the deceased has brokerage accounts and IRA.

If positive information is received, a certified copy of the account holder's death certificate is sent to the broker. All transactions on them are blocked until the assets are transferred to the new owner.

If the heirs did not suspect the existence of a will, the notary will inform them, since he has access to the register in which all wills are recorded.

In the absence of a will, you will have to wait until all the legal heirs have been identified and all the assets of the deceased have been discovered.

If the deceased left a will, then it indicates who will inherit his property and in what amount. These will not necessarily be relatives.

Only those people mentioned in the will can become heirs. Provide the notary with the document you have:

a will, a joint will of spouses or an inheritance agreement;
notarized copies of the protocol of opening the envelope with a closed will;
testamentary disposition of rights to funds in a bank.

List of applicants

The following heirs can apply for an inheritance in the form of securities:

by law in order of priority;
by will;
representatives of categories having an obligatory share in the inheritance: minor children, disabled through representatives (guardians, trustees); persons who previously lived with the deceased for more than 1 year and are dependent on him (Article 149 of the Civil Code of the Russian Federation).

Some groups of citizens can be transferred to the status of unworthy heirs in court if they commit criminal acts against the owner of the property or other heirs.

Composition of the hereditary mass

The very phrase “inherited mass” is a legal term that denotes the entire set of things, property that the testator owned at the time of death, as well as his rights and obligations of a property nature.

The range of both objects and rights and obligations can be very wide:

real estate objects, incl. land;
vehicles;
other movable property, household items, furniture, books;
jewelry and cash, incl. on accounts in banking institutions;
securities, shares, bonds;
share in business;
shares in cooperatives;
rights of claim under debt obligations of third parties;
exclusive rights (to a work, publication, performance, etc.);
credit obligations under loan agreements in banking institutions;
obligations to pay debts to third parties that were not satisfied at the time of death.

This list is not exhaustive. But we must understand that the estate cannot include non-property rights and obligations of a personal nature that are inextricably linked specifically with the personality of the testator, such as the right to a good name, copyright, the right to compensation for harm caused to the person or health, the right to alimony, rights and obligations arising from agency agreements concluded by the testator, etc. (Civil Code of the Russian Federation, Art. 1112)