TRANSFER OF OWNERSHIP OF NOVA DEBENTURES OR NOVA SHARES FOLLOWING DEATH OF THE OWNER AND INHERITANCE BY FAMILY MEMBERS OR OTHER PARTIES IN TERMS OF THE DECEASED’S LAST WILL AND TESTAMENT

In the event of the death of a debenture holder and for the information of persons who inherit these assets in the deceased’s estate (this also applies to inheritance of Nova Property shares issued in terms of the Schemes of Arrangement), Nova has advised that the ownership transfer to be registered with them must be done by the estate executors


Whilst Nova have not confirmed in precise terms, the following information would, logically, have to be conveyed to them in writing on the executor’s letterhead:
Full name, SA ID # or passport#, address, email address, telephone numbers and Debenture or Share Certificate #s (although the executor will be fully conversant with the standard requirements, including necessary documentation, for registration of change of ownership of the assets bequeatherd in the estate)

The same information would be required for the person(s) inheriting from the deceased

Where the debenture(s) or share(s) have been left to more than one beneficiary, the executor must also provide the split per inheritor

We expect that Nova still charges for the transfer of ownership and suggest that the charge would be paid over to Nova by the executor and then be accounted for in the Liquidation & Distribution Account prepared by the executor for presentation to and the approval of, the Master of the High Court