Irrevocable Stock Power
What this document covers
The irrevocable stock power is a legal document used to transfer ownership of shares of capital stock from one individual to another. Unlike a revocable stock power, this form solidifies the transfer, making it permanent and binding. It serves to assign shares while also granting the receiver authority to manage the stock on the company's records.
Key parts of this document
- Names of the transferor and transferee
- Number of shares being transferred
- Name of the corporation whose stock is being transferred
- Certificate number associated with the shares
- Appointment of the attorney for transferring the stock
- Signatures of the parties involved and date of transfer
Common use cases
This form is essential when an individual wishes to transfer ownership of stock shares in a company without the option to reverse the transaction. Common scenarios for using this irrevocable stock power include gifting stock, completing a business buyout, or transferring shares as part of a divorce settlement.
Who needs this form
This form is suitable for:
- Individuals transferring stock as a gift or for value
- Investors transferring shares to another party
- Business partners involved in asset distribution
How to complete this form
- Identify the parties involved by entering the names of both the transferor and transferee.
- Specify the number of shares being assigned and the corporation's name.
- Enter the certificate number associated with the stock shares.
- Appoint an individual as the attorney to manage the stock transfer.
- Ensure the document is dated and signed accurately, matching the names on the stock certificate.
Does this form need to be notarized?
This form does not typically require notarization unless specified by local law. It is advisable to check with local regulations to ensure compliance.
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Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Typical mistakes to avoid
- Not signing the form as it appears on the stock certificate.
- Failing to provide a separate stock power for each security transferred.
- Leaving any sections of the form incomplete.
Advantages of online completion
- Convenience of downloading and printing at your convenience.
- Editability to tailor the form to your specific transaction.
- Access to professionally drafted documents by licensed attorneys.
Legal use & context
- The irrevocable stock power is legally binding once executed.
- Properly filled-out forms can help prevent disputes regarding stock ownership.
- Ensure compliance with any specific state laws related to stock transfers for enforceability.
What to keep in mind
- The irrevocable stock power is crucial for transferring stock shares permanently.
- Complete each section accurately to ensure valid transfer of ownership.
- Review state-specific requirements to adhere to local laws.
