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Things you need to know about Deed of Trust and Assignment (for shares of stock).
1. What is a Deed of Trust and Assignment?
In a Deed of Trust and Assignment, the signor (the trustee) confirms that he/she is holding certain shares of stock in a corporation only in trust for the benefit of another person (the trustor).
The signor also appoints the Corporate Secretary of the corporation that issued the shares of stock as his/her attorney-in-fact to sell, assign and transfer the shares of stock in favor of the trustor or any person designated by the trustor.
2. What information do you need to create the Deed of Trust and Assignment?
To create your Deed of Trust and Assignment, you’ll need the following minimum information:
The name and details (i.e. nationality and address) of the trustee
The name of the trustor
The number of shares held in trust
The corporation which issued the shares of stock
3. How much is the document?
The document costs PhP 350 for a one-time purchase.
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