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WiseOwl58
WiseOwl58, Lawyer
Category: Real Estate Law
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Experience:  Experienced real estate lawyer and real estate broker.
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Transfer of Co-op authorized capital stock shares between

Customer Question

Transfer of Co-op authorized capital stock shares between sisters? Already received approval from co-op board of directors.
Submitted: 4 months ago.
Category: Real Estate Law
Customer: replied 4 months ago.
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Expert:  WiseOwl58 replied 4 months ago.

If you have received the necessary co-op board approval, under New Jersey law, then what you need to do is prepare a purchase and sale agreement and assignment of the shares from one sister to the other. If there is to be a purchase price, the price should be paid, and you should sign an agreement saying the purchase price has been received and paid and the shares transferred. Then the co-op board should transfer the shares on the books of the co-op corporation and issue new share certificates in the name of the sister who is receiving the shares. That is how this is done properly under New Jersey law.

Please rate 4 or 5 and close out the question. Good luck to you. I wish you all the best.

Expert:  WiseOwl58 replied 4 months ago.

Please rate 4 or 5 and close out the question Good luck to you. I wish you all the best.

Expert:  WiseOwl58 replied 4 months ago.

Please rate 4 or 5 and close out the question Good luck to you. I wish you all the best.

Expert:  WiseOwl58 replied 4 months ago.

Please rate 4 or 5 and close out the question Good luck to you. I wish you all the best.

Expert:  WiseOwl58 replied 4 months ago.

Please rate 4 or 5 and close out the question. Good luck to you. I wish you all the best.

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