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Current as of January 01, 2025 | Updated by Findlaw Staff
A gift of specific securities, rather than their equivalent value, entitles the beneficiary only to:
(1) As much of the gifted securities of the same issuer held by the trust estate at the time of the occurrence of the event entitling the beneficiary to distribution.
(2) Any additional or other securities of the same issuer held by the trust estate because of action initiated by the issuer, excluding any acquired by exercise of purchase options.
(3) Securities of another issuer held by the trust estate as a result of a merger, consolidation, reorganization, or other similar action initiated by the original issuer.
Cite this article: FindLaw.com - Florida Statutes Title XLII. Estates and Trusts § 736.1107. Change in securities; accessions; nonademption - last updated January 01, 2025 | https://codes.findlaw.com/fl/title-xlii-estates-and-trusts/fl-st-sect-736-1107/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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