If I was gifted a large amount of stock shares when I was a child from my grandfather, am I entitled to those shares as an adult?
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If I was gifted a large amount of stock shares when I was a child from my grandfather, am I entitled to those shares as an adult?
My father had those stocks transfered into his own name while I was still a minor. Do I have any legal right to those stocks under the Uniform Gift to Minor’s Act?
Asked on May 2, 2012 under Business Law, New York
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
If you in fact were gifted a large amount of stock as a minor from your grandfather you are entitled to such stock certificates as an adult unless the gift was part of a trust where the stock is to be held in trust for you for a certain amount of time.
The problem I see is that if your father had the stock certificates transferred into his name and he will not transfer them to you, you have the burden of proving that you were actually gifted such certificates by your grandfather. To demonstrate such, you will need to find documentation showing that your grandfather did in fact gift you so many shares of stock that you are writing about.
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