Found some old stock certificates in someone else’s name?
Question is: Is there any way I could cash out this certificate with someone else’s name. Or do I just sell it for $5 as a cool 80 year old piece of paper.
Long story short, Wawa (local gas station company) bought an old property and the the real estate agent hired me to clean it out and sell all the furniture before they demo it. He said “if you found gold under the floorboards it’s your” Well we didn’t find any gold but we did find some old stock certificates one of which is worth about $3k. The owner of the stocks has passed away and he has no remaining family. Technically speaking Wawa owns the property itself and via a handshake deal I own everything inside. Real estate guy says if I can find a way to cash it out, it’s mine.
- BLv 73 weeks ago
It might be worth it to contact a lawyer, are you sure there are no 'cancellation' puncture holes in the certificate, which would be a sign it was transfered.
- EvaLv 74 weeks ago
You won't be able to cash it. It belongs to the deceased's estate and if he had no heirs, it belongs to the state.
- Casey YLv 74 weeks ago
Contact the company...I'd bet the cert was recorded as lost many years ago...
- A nobodyLv 74 weeks ago
You CAN NOT "cash out" on the certificate. You have no legal rights to ownership in the company nor are you entitled for any benefits from the company. .
You have a piece of paper which indicates the registered owner full rights and benefits of ownership, holding a certificate not registered in your name gives you no rights or benefits.
Unless you purchased the stock from the shareholder and can prove it, OR you inherited it from the registered owner and can prove it, the certificates has no value nor does it provide with any benefits.Source(s): from The Street
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- SlumlordLv 74 weeks ago
Even if the owner had no family, they likely designated someone as their heir. They would be the owner of this stock if the certificate truly has any value. More likely the certificate was reported lost 79 years ago, a new one was issued, and the stock has moved on to someone else, and this is nothing more than a cool piece of paper. Anyhow, even if there were no heirs, you never owned the stock and having the certificate means nothing - no way for you to cash out on this.
- curtisports2Lv 74 weeks ago
What the real estate guy told you does not apply to old stock certificates that have value because they were never surrendered and the companies are not defunct.
But chances are excellent that the certificates were surrendered long ago or the companies (or any successor companies to them) are defunct. They would just have limited collector value.
- hamel5Lv 74 weeks ago
Try calling or emailing WaWa's investor relations dept. If they're bearer share, whoever has the certificate is entitled to the stock . I would shorten the explanation for them.