OVERVIEW
TSX Trust processes on average 35-40 requests related to an estate from a Brookfield shareholder on
a monthly basis. Processing time is within 6-10 business days.
However, more time is required when documentation is insufficient.
The main requirements to replace a share certificate and/or transfer of securities from a deceased
holder are as follows:
A. Replacement of share certificates that have been reported lost, destroyed or stolen will be
processed under a master lost instrument bond between TSX Trust and a surety company or a
third party surety bond acceptable to TSX Trust.
Note: in the case of lost or misplaced DRS statements, TSX Trust will replace without the
requirement of a surety bond.
B. The transfer of shares registered in the name of a decedent will be under a master lost
instrument bond and/or waiver of probate bond between TSX Trust and a surety company or
third party surety bond acceptable to TSX Trust.
In the case of transmission of shares of a decedent where no administration is contemplated,
TSX Trust will replace upon receipt of an indemnity agreement satisfactory to TSX Trust.
LOST CERTIFICATE REPLACEMENTS AND ESTATE TRANSFERS
LIST OF DOCUMENTS – ONTARIO
LOST CERTIFICATES
TRANSFER WITH
PROBATE
TRANSFER WITHOUT
PROBATE
Share Certificate
●
●
Affidavit of Loss
●
Surety Bond
1
●
Certificate of Appointment of Estate
Trustee with a Will/without a Will (or
other Proof of Appointment)
●
Declaration of Transmission
●
●
Security Transfer Form
●
●
Signature Guarantee or Endorsement
Guarantee stamp
●
●
Waiver of Probate Bond & Agreement
of Indemnity
1
●
Notarial certified copy, Certified True
Court copy or Medallion copy of
Death Certificate
●
Notarial certified copy, Certified True
Court copy or Medallion copy of the
Last Will and Testament
Only required if Probate
does not specify Estate
Trustee
Representative letter from the estate
●
Processing Fee
●
1
Currently the fee for the bond represents 3.5% of the market value of the shares represented, with a minimum fee of $30. This payment
secures an indemnity bond, which allows TSX TRUST and the Issuing Company to issue a replacement or transfer shares without Probate.
For shares with a value in excess of $250,000 CAD, or where TSX TRUST does not have an arrangement with the Client for this coverage, it is
the responsibility of the shareholder or its representative(s) to obtain an open penalty bond.
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LOST CERTIFICATE REPLACEMENTS AND ESTATE TRANSFERS
LIST OF DOCUMENTS – QUEBEC (where deceased resided)
LOST CERTIFICATES
TRANSFER WITH
PROBATE
TRANSFER WITHOUT
PROBATE*
Share Certificate
●
Please consult
TSX Trust
Affidavit of Loss
●
Surety Bond
2
●
Certificate of Appointment of Estate
Trustee with a Will/without a Will (or
other Proof of Appointment)
●
Declaration of Transmission
●
Security Transfer Form
●
Signature Guarantee or Endorsement
Guarantee stamp
●
Waiver of Probate Bond & Agreement
of Indemnity
2
Notarial certified copy, Certified True
Court copy or Medallion copy of
Death Certificate
Notarial certified copy, Certified True
Court copy or Medallion copy of the
Last Will and Testament
Representative letter from the estate
Processing Fee
Certificat de Recherche
●
2
Currently the fee for the bond represents 3.5% of the market value of the shares represented, with a minimum fee of $30. This payment
secures an indemnity bond, which allows TSX TRUST and the Issuing Company to issue a replacement or transfer shares without Probate.
For shares with a value in excess of $250,000 CAD, or where TSX TRUST does not have an arrangement with the Client for this coverage, it is
the responsibility of the shareholder or its representative(s) to obtain an open penalty bond.
* To be established once considered if the Executor can obtain a Declaration of Heirship or obtain Court Probate**
** Subject to review under individual probate circumstances.
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LOST CERTIFICATE REPLACEMENTS AND ESTATE TRANSFERS
LIST OF DOCUMENTS – US / INTERNATIONAL
LOST CERTIFICATES
TRANSFER WITH
PROBATE
TRANSFER WITHOUT
PROBATE
Share Certificate
●
●
Affidavit of Loss
●
Surety Bond
3
●
Certificate of Appointment of Estate
Trustee with a Will/without a Will (or
other Proof of Appointment)
●
Declaration of Transmission
●
●
Security Transfer Form
●
●
Signature Guarantee or Endorsement
Guarantee stamp
●
●
Waiver of Probate Bond & Agreement
of Indemnity
3
●
Notarial certified copy, Certified True
Court copy or Medallion copy of
Death Certificate
●
Notarial certified copy, Certified True
Court copy or Medallion copy of the
Last Will and Testament
●
Representative letter from the estate
●
Processing Fee
●
3
Currently the fee for the bond represents 3.5% of the market value of the shares represented, with a minimum fee of $30. This payment
secures an indemnity bond, which allows TSX TRUST and the Issuing Company to issue a replacement or transfer shares without Probate.
For shares with a value in excess of $250,000 CAD, or where TSX TRUST does not have an arrangement with the Client for this coverage, it is
the responsibility of the shareholder or its representative(s) to obtain an open penalty bond.
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LOST CERTIFICATE REPLACEMENTS AND ESTATE TRANSFERS
DESCRIPTION OF DOCUMENTS
NOTE: All certifications of documents must be dated within 1 year of presentation. All legal documents should
be original. Copies will be accepted if they are certified to be authentic
by one of the following:
A. Notary Public
B. Medallion Imprint by a participant of the Medallion Program (Examples: a domestic bank
or trust company, broker-dealer, clearing agency, savings association, or other financial institution.)
C. Schedule 1 Canadian Chartered Bank
1. CERTIFICATE OF APPOINTMENT OF ESTATE TRUSTEE WITH A WILL / WITHOUT A WILL
OR OTHER PROOF OF APPOINTMENT.
If a Certificate of Appointment is not available, Letters of Probate, Letters Testamentary or Letters of
Administration will also be accepted.
The document must be the original or a copy, which has been certified to be authentic by:
• Notary Public
• Schedule 1 Canadian Chartered Bank
• Medallion Stamp by a participant of the Medallion Program
Photocopies are not acceptable. If probate has not been obtained, kindly advise our offices for alternate
transfer requirements.
2. DECLARATION OF TRANSMISSION
This form is used to set out certain facts relating to the estate. All sections are to be completed by the
executor(s) or other personal representatives (in common law jurisdictions, a personal representative or legal
personal representative is a person appointed by a court to administer the estate of another person.)
NOTE: Any number of certificate(s) can be listed on the same Declaration of Transmission Form if they are of
the same company and class. Where different companies or classes are involved, a separate Declaration of
Transmission Form must be provided for each.
All sections of the Declaration of Transmission must be completed by the executor(s) or other personal
representative(s). It must be signed before either a Notary Public or Commissioner for Oaths and bear their
stamp or seal.
If the Notary or Commissioner does not have a stamp or seal, they must provide proof of their appointment.
NOTE: If there is no Last Will & Testament, all surviving heirs at law or next of kin entitled to share in the
estate must be listed and sign the Declaration of Transmission.
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LOST CERTIFICATE REPLACEMENTS AND ESTATE TRANSFERS
3. SECURITY TRANSFER FORM
For transfers of shares previously owned by a deceased holder, the Security Transfer Form is only required if
the securities are being transferred beyond the estate.
If the securities are to be transferred to the estate, they will be registered in the name of the estate trustee:
Example: John Doe, Estate Trustee for the Estate of Jane Doe
The Security Transfer Form is not required if you send us a Letter of Direction requesting that the shares be
transferred to the name of the estate in the executor’s capacity as indicated above.
NOTE: If there is no Last Will & Testament, all surviving heirs at law or next of kin entitled to share in the
estate must be listed and sign the Security Transfer Form.
4. SIGNATURE GUARANTEES
The signature guarantee must be that of a Canadian Schedule 1 Chartered Bank, namely Royal Bank of
Canada, Toronto-Dominion Bank or ScotiaBank, or a Medallion Signature Guarantee from a member of the
Medallion Program. The authorized officer of the bank providing the signature guarantee must clearly print
their name and their location in the signing authority book (i.e. page or signing authority number). The stamp
itself must clearly read either Signature Guaranteed or Endorsement Guaranteed.
All other forms of signature guarantees are not acceptable and will result in the transfer being rejected.
NOTE: The same Securities Transfer Form may cover any number of certificates provided they are of the
same company and class. Where different companies or classes are being submitted, separate Securities
Transfer Forms must be provided for each.
Additional documentation may be required for trusts, corporations, partnerships, etc. For more details, please
contact TSX Trust.
5. WAIVER OF PROBATE AND AGREEMENT OF INDEMNITY
This form is used to apply for the Waiver of Probate Bond with the surety bonding company (currently
Travelers Insurance Company of Canada). If the shares are not listed in the Will, all residual beneficiaries
entitled to a share in the estate must be listed and all must sign the form before either a Notary Public or
Commissioner for Oaths. The executor is not required to sign in their capacity as executor unless they are
entitled to a share in the estate.
NOTE: If there is no Last Will & Testament, all surviving heirs at law or next of kin entitled to share in the
estate must be listed and sign the Waiver of Probate and Agreement of Indemnity form.
6. DEATH CERTIFICATE &/OR LAST WILL AND TESTAMENT
A last will and testament is a legal document that outlines a person’s final wishes regarding the distribution of
their assets and property after death and may also address other matters, such as the guardianship of minor
children.
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LOST CERTIFICATE REPLACEMENTS AND ESTATE TRANSFERS
A death certificate contains the details of a person’s death. For more information on how you can order a
copy of a death certificate, or multiple copies, in Ontario, see here:
https://www.ontario.ca/page/how-get-copy-ontario-death-certificate-online
For Quebec: http://www.etatcivil.gouv.qc.ca/en/certificate-copy/certificate-copy.html
7. REPRESENTATIVE LETTER FROM THE ESTATE
For non-probated estates, a letter from the executor(s) or other personal representative(s) of the estate is
required to be provided, stating the reason(s) for not probating the Will.
The letter should include:
• A description of the individual’s authority to act on behalf of the estate (e.g. whether as an executor
appointed under the Will, as a beneficiary or an heir, or under any other capacity);
• A request that the shares be transferred or re-registered and in what name (with contact information
including the address where future correspondence should be sent); and
• The reasons for not probating the Will or seeking a Letter of Administration or other certificate of
appointment from the Court.
SHAREHOLDER CONCERNS
In most cases, the replacement of lost certificates and estate transfers are processed without concern. However,
the top reasons for further shareholder engagement are:
• Incomplete forms
• Obtaining Signature guarantees and/or Medallion signature guarantees
• Fees – cost for surety bond and/or to certify documentation
FOR MORE INFORMATION
Our team leads in the estate processing area and call centre are here to help the estate with the documentation.
• Canada and United States (English & French): 1 (877) 715-0498
• Outside North America: 1 (416) 682-3860
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