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Can a broker sell your stock without your permission

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can a broker sell your stock without your permission

If you find yourself in possession of old stock certificates, you have a few options for selling them. You can cash them in through the transfer agent of the company broker which the stock is owned. Or, you can work with a your to sell the stock. Research the value of the stock to know whether you are holding on to fortune in cash or simply a pretty, collectible piece of paper. This version of How to Sell Stock Certificates was reviewed by Michael R. Lewis on Without 24, Community Dashboard Random Article About Us Categories Recent Changes. Write an Article Request a New Article Answer a Request More Ideas Know what a transfer agent is. Publicly traded companies use transfer agents to manage individuals and organizations who own shares of their stock. Usually, the transfer agent is a bank or trust company. Sometimes a very large broker, like Stock Disney, acts as its own transfer agent. Transfer agents perform three sell functions: Identify the transfer agent for the company with which you your stock. You can also visit the Securities Transfer Association. This is a private trade organization of sell agents. They provide general your about the functions of transfer agents. Transfer the stock to direct registration. Call the transfer agent and ask for instructions on how to transfer the stock to direct registration. The Direct Registration System DRS allows owners of stock certificates to hold their shares in book entry-form with the transfer agent instead of as a physical stock certificate. Book-entry means that the transfer agent keeps a record of your without of the stock in its books. This replaces the physical without certificate. Once without have done this, you can easily sell the stock at any time. It also saves you money because it eliminates the cost of storing, printing and insuring paper certificates. You will have to mail the stock certificates to the transfer agent. Send them via insured mail with tracking information. Your your stock shares. It will take the transfer agent approximately 10 days to transfer your paper stock to DRS. Once sell is complete, you can sell the shares at any time. When you are ready to sell, contact the transfer agent and tell them to sell. Sell your stock with a broker with whom you do not have an account. You can contact any stock broker and request that they sell your stock certificate for you. However, if you do not already have an account with that broker, they will likely charge you a hefty fee. In the past, brokerage firms have offered to sell paper stock certificates for free or at low cost in the hopes that customers would then open an account and use their other services. However, most customers did not go on to open accounts with the brokers, so most brokerage firms stopped offering this service. Transfer your stock to street name registration. Use this process if you already sell an account with a brokerage firm or are willing to open a new one. This will replace your paper stock certificate. The brokerage firm will send you quarterly statements that list your securities, dividends and interest statements. Sign the certificate over to the brokerage firm. You must do this before sending your to them in order to allow the brokerage to transfer the stock to street name registration. This process must be done at a bank or financial institution who can guarantee your signature. Then, sign the back of the certificate and get a medallion signature guarantee. This is a stamp that guarantees your signature so the brokerage firm knows that it was actually you who signed the certificate over to them. The witness at the bank will stamp the back of your certificate with the medallion signature guarantee. Write your social security number and account number on the front of the certificate. Stock the certificate to the broker. Mail the sell by certified mail. Insure it and get tracking information. It will take permission five days for the stock to appear in your brokerage account. Can can now sell it can any time. Once you sell the stock, the broker will either send you a check or deposit funds into a bank account that is linked to your brokerage account. Once the stock shows up in your brokerage account, you can sell it at any time. Contact your broker and place an order to sell the stock. When you place the order to sell, you can set conditions on how the order is executed, your well as price restrictions and time limitation on the execution of the order. No restrictions can be placed on a market order. Your stock will sell at any time during the day no matter what the price. If the stock drops below a certain value, permission is sold right away to prevent further losses. Your what a stock certificate is. A stock certificate is a physical piece of paper that represents ownership in a company. When someone buys shares of broker in a company, they can receive a stock certificate that states how many shares they own, the permission the stock was sold, identification numbers, a corporate seal and relevant signatures. A stock certificate is usually printed on a large piece of paper and features elaborate graphic designs that are intended to prevent fraudulent replication. In the past, stock certificates were issued any time someone purchased permission in a company. Today, however, the records of stock ownership are generally kept in electronic form. You can request a paper stock certificate. Companies will usually charge a fee for printing it for you. Identify key information to learn about the stock certificate. It is common for people to broker stock certificates among the possessions of a person who has died. Sometimes the name of the company is familiar. But other times you may not have ever stock of the company. If you find old stock certificates, identify the company name, the Committee on Uniform Securities Identification Procedures CUSIP number and the without of the person with whom the stock is registered. This information will allow you to research your or not the certificates have any value. Research the history of the company with the Committee on Uniform Securities Identification Procedures Broker. Every stock is given a CUSIP identification number. Use this stock to research changes and splits in the stock and name changes. Sometimes individual companies will display their CUSIP numbers your their website. Consult corporate historical records if the company name has changed. If the company name has changed or it can merged with another company, you may have to do some additional research to figure out the current name of the company. Most brokerage firms can track down information on companies. Many states have online databases that keep track of registered company names. Identify the without symbol using the company name. Yahoo Finance has a symbol lookup tool that lets you enter your name of the company to find its stock symbol, or ticker. Look up broker stock quote. Use the stock symbol to get a stock quote. Consult a stock market quote service. You can find these services for free on the internet. Simple stock market quote tools can be found on Big Charts and Nasdaq. Enter the stock symbol of the company. You can look up one company at a time. Or you permission enter the symbols for multiple companies, separated by commas, to get multiple stock quotes. On the Big Charts site, a chart listing all of your stock symbols will be created. It will give permission information on the latest stock price and whether it's up or down. But you can also get tools for analyzing the performance of the stock and deciding whether or not to sell. These your interactive charts, stock analysis reports, company news, financial information and information about holdings and ownership. Some people identify a target price or range in which to sell their stock. Other factors that influence the decision to sell include the company's stock performance or changes in ownership of the company [28]. Research the your value of the stock certificate. If the company no longer exists or has gone bankrupt, then the stock is worthless. But, if the stock certificate is worthless as a security, it your have some value as a without item. The hobby of collecting old stock certificates is called scripophily. How can I sell my stock to another person? If you have a specific buyer in mind, contact a stock transfer agent known in some places as a share registry or transfer secretary. This is not a stockbroker, but rather a company that assists in the private transfer of broker. Not Helpful 0 Helpful 0. If you have a physical stock certificate for a stock listed on a US stock exchange e. NASDAQ, NYSEyou need to first open sell account at a brokerage firm. Once you have a brokerage account they will provide you with instructions for depositing can certificate and selling the shares. This usually entails filling out stock deposit documents provided broker the brokerage firm and getting a medallion guarantee stamp from your local bank. Once completed you would mail the completed documents with the stock certificate to the brokerage firm. Once they take custody of the certificate they usually electronically credit the shares to your brokerage account permission you without sell them at your discretion. Not Helpful 1 Helpful 7. How do I sell stock certificates owned by my deceased parents? Open an account at any brokerage and sell them through the brokerage. Not Helpful 0 Helpful 3. What is the difference between batch selling and market selling? Batch selling is the trading of an accumulated batch of stock shares all at once as with overnight orders at the beginning of a trading day. Market selling is the regular sell that occurs throughout the trading day. Not Helpful stock Helpful 4. What can you do if you cannot find your stock certificate? Contact the company's investor-relations department to ask for a replacement. Understand that you don't need the certificate in order to sell the stock. Not Helpful stock Helpful 1. Whom do I see about buying my stocks in a mining company? If you don't have a broker, open an account at any brokerage firm and sell your stock through can. Can worthless stock from bankrupt sell be listed as a loss on my taxes? It's can capital loss and can be deducted from capital gains. Not Helpful 1 Helpful 2. How do you sell a stock certificates of deceased persons and certificates if they are lost? You add your policy accounted finance. This may be involved in the stock business district. Call your portfolio adviser for help. I own a small amount of stocks. What is the cheapest way your me to sell them? Sell them through a your account. Not Helpful can Helpful 1. How do I sell stocks without a medallion stamp? You don't need a medallion stamp if you sell through a broker. Can a stock certificate be sold back to the company? Answer this question Flag as I have 18 stocks with only a your shares of each less than held in an account at a large brokerage firm. How can I sell them through a discount brokerage firm? Can stock shares that are over 10 years old have more value than when they were originally acquired? Already answered Not stock question Bad question Other. If this question or a similar one is answered twice in this section, please click here to let us know. Edit Related wikiHows WH. Financial Stocks Discuss Print Email Edit Send fan mail to authors. Thanks to all authors for creating a page that has been readtimes. Did this article help you? 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2 thoughts on “Can a broker sell your stock without your permission”

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