Hello Nairalanders
My Dad bought some shares in my name
Since the signatures on the share certificate is his, I want to know if i can sell them without his consent
Plus i want to know if i can pay in my dividends in a savings acct since i dont have a Current acct
Thanks

actually your dads signature is need for verification purpose so you cant just sell it.Also you can pay your dividend in your account.

@ cantiride2
Thanks for the info

Are you sure i can pay in my dividends in Intercontinental or GTB becoz i maintain only a savings account with Both

Plus can i pay in Dividends not in names there or only the ones in my name

I am sorry i am just a newbie to this

am sorry you may not be able to lodge your dividend warants into your savings account, except the accounts are hybrid in nature by these i mean they possess attributes of both the savings and current accounts. again, if i may ask, why do you want to sell the stocks without your fathers consent?

i just hope you are not making a mistake. cos i can sense a sinister motive that may cause you pains if care is not taken. a word is enough for a wise

If the stocks belong to him, then there is no "sinister motive" involved in selling them. It is his right to sell them.

I slightly disagree seun.

It can only be his right subject to the consent of his Dad who in fact signed the share certificates.

Besides, he should also have difficulties lodging a dividend warrant that bears his Dad's name in his bank account.

@Aporo
You may want to read well 'fore you 'contribute'
The shares was bought in my name (my own Name)
My Dad now lives in the UK, and things have falen apart 'tween me and him
so its little or no communication, i have loads of Dividend slips lying in my rooms
Dunno what to do with it!

@Koboland

Thank you for the clarification!

Since the shares were purchased in your name, i presume that the dividend warrants were also issued in your name and to that extent, i am of the view that you should be able to lodge them in your account.

I am afraid however that you may not be able to sell the shares whose certificate bears your name without the consent of your Dad who signed the purchase form in the first place.

I think everything depends on how old you are. You should be allowed to sell it if you're over 18.
If the law says otherwise, then the law needs to be changed. When you give a gift, it's no longer yours.

Very correct Seun and i entirely agree with your proposition.

Meanwhile, it would appear that only his Dad (regardless of Koboland's age), that can confirm whether purchase of the shares was indeed a gift or otherwise. It is not uncommon for people to buy properties especially shares in the names of their children not necessarily with the intention of giving it to them but oftentimes as some vehicle for investing.

My position would however be different if Koboland can confirm to us that there was a specific agreement or proof between himself and his father that demonstrates that the shares in question was a gift.

Thats the Problem,
We dont talk Nomore
I have more than 80 Dividend warrant wasting in my room

@Koboland

Aporo:

@Koboland

Since the shares were purchased in your name, i presume that the dividend warrants were also issued in your name and to that extent, i am of the view that you should be able to lodge them in your account.

I am afraid however that you may not be able to sell the shares whose certificate bears your name without the consent of your Dad who signed the purchase form in the first place.

Please refer to my earlier views in the above post.

Regards