TRANSFER REQUIREMENTS FOR WP CAREY

A transfer requires either the CPA Title Transfer Form or a Letter of Instruction (LOI) signed by all current legal titleholders and all new legal titleholders, with all signatures Medallion Guaranteed. For the new titleholder, we require the social security number or tax id, the registration type, the Broker/Dealer and Representative's name and address and new distribution address. If there's a power-of-attorney (POA) involved, a copy of the POA should be enclosed. In addition, the following requirements may also be applicable, if the transfer is to one of the following registration types:

TRANSFER TO	REQUIREMENTS
Trust	Pages of the trust showing name of trust, name of trustees, date & trustee signatures
Corporation	Corporate Resolution
Partnership	Partnership Agreement
Individual, the minor (from UGMA)	Copy of birth certificate
Guardianship	Document authorizing the guardianship
Qualified Plan (e.g. IRA to Roth IRA)	LOI signed by trust officer w/ Medallion Guarantee
Profit sharing plan/pension plan	Pages of the plan showing name of Plan, name of trustees and signatures

If the transfer is due to death, we require:

• Death certificate
• Copy of letters of testamentary (sometimes called Court Appointment or Letters of Administration) - must be dated within 90 days of our receipt
• Affidavit (in lieu of Letters of Testamentary if there was no probate) Affidavit must be signed by beneficiary and Medallion Guaranteed.

In addition, other requirements may also be applicable, if the transfer is from or to the following registration types:

TRANSFER FROM....TO....	REQUIREMENT(S)
From individual to estate	Death certificate, letters testamentary, LOI from executor with medallion Guarantee.
From individual to individual	Death certificate, letters testamentary, LOI signed by executor & by assignee(s) with Medallion Guarantee.
From joint tenants to individual (surviving tenant)	Death certificate, LOI signed by surviving tenant (no Medallion Guarantee needed).
From tenants in common or community property to ...(if one of the tenant is deceased)	Death certificate, letters testamentary, LOI from executor with Medallion Guarantee.
From trust to ...(if a trustee is deceased)	Death certificate, page of the trust that names the successor or sole trustee (if there's a co-trustee), LOI signed by successor or sole trustee(s) & by assignees(s) with Medallion Guarantee.
From individual to testamentary trust	Death certificate, copy of the will (page that details how it should be transferred to the trust in the event of death), LOI from the trustee(s) with Medallion Guarantee.
From Individual to TOD registration	Attached TOD Form with Medallion Guarantee

Resale transfers: If a transfer is due to a sale in which there was an exchange of money, this additional requirement is needed:

• $50 transfer fee for each seller.

IRA to IRA accounts only:

If you are simply changing the trustee on your IRA account, we require:

• Letter of Instruction signed by an authorized trust officer from the resigning custodian with Medallion Guarantee
• Letter of Instruction signed by an authorized trust officer from the new custodian with Medallion Guarantee

 

© 2004, Phoenix American Incorporated, All Rights Reserved.

Please read our Legal Notices.