- 1). Review your account statement to determine account ownership. There are three possible ways a joint account may be owned in the United States: Joint Titled with Rights of Survivorship or Joint Tenants in Common. Sometimes abbreviations are used, JTROS for Joint Titled with Rights of Survivorship or JTC for Joint Tenants in Common.
- 2). Sell stock normally by contacting the broker of the account if you have a Joint Titled with Rights of Survivorship account. This ownership type allows the surviving owner to continue operating the entire account as if the other owner were still alive.
- 3). Sell up to half the account if you have Tenants in Common ownership. This type allows you to transfer or sell half of the account value. You have no claim to the remainder without filing paperwork with the broker to prove that you're the beneficiary of the other half of the account.
- 4). Re-title the account in your name alone by filing paperwork with the brokerage firm holding the shares. If shares are held by you, you'll need to find a broker to sell your shares. Submit the shares, a copy of the estate documents proving you're the beneficiary and a death certificate to a brokerage firm to change the title on all shares to your name.
- 5). Verify that the account has been set up correctly by closely examining your first statement from the brokerage firm. Your account should have your name and any new joint tenant only, with the deceased person removed. Once this is complete, you can proceed with your stock sale by contacting the broker holding the shares.
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