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Deed Of Gift Of Shares

Deed Of Gift Of Shares Template for Canada

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Key Requirements PROMPT example:

Deed Of Gift Of Shares

"I need a Deed of Gift of Shares to transfer 5,000 common shares in my family-owned manufacturing business to my daughter, who will be taking over as CEO in March 2025; the shares represent 40% of the company's voting rights."

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Document background
The Deed of Gift of Shares is a specialized legal document used in Canadian jurisdictions to facilitate the transfer of share ownership without monetary consideration. This document is commonly employed in situations such as family business succession planning, estate planning, charitable donations, or corporate restructuring. It must comply with both federal and provincial regulations, including securities laws, corporate statutes, and tax legislation. The deed typically includes detailed information about the shares being transferred, warranties from the donor, acceptance by the recipient, and any conditions attached to the gift. It's essential for ensuring the transfer is legally binding and properly documented, particularly important for tax purposes and corporate record-keeping.
Suggested Sections

1. Parties: Identification of the Donor and Recipient, including full legal names, addresses, and any relevant corporate details

2. Background: Context of the gift, relationship between parties, and overview of the shares being gifted

3. Definitions: Definitions of key terms used throughout the deed, including 'Shares', 'Company', 'Transfer Date', etc.

4. Details of Shares: Specific description of the shares being gifted, including class, number, and the company details

5. Declaration of Gift: Clear statement of the donor's intention to make the gift and transfer ownership of the shares

6. Delivery and Transfer: Mechanics of how the transfer will be executed, including registration requirements

7. Donor's Warranties: Warranties regarding ownership, right to transfer, and absence of encumbrances

8. Recipient's Acknowledgment: Confirmation of acceptance of the gift and any associated obligations

9. Execution: Formal execution clause meeting deed requirements, including witness provisions

Optional Sections

1. Tax Acknowledgments: Section addressing tax implications and responsibilities - include when tax matters need to be explicitly addressed

2. Conditions: Any conditions attached to the gift - include only if the gift is conditional

3. Company Acknowledgment: Company's acknowledgment of the transfer - include when required by company constitution or desired for clarity

4. Power of Attorney: Appointment of donor as attorney to complete transfer - include when practical completion steps may be required

5. Governing Law: Explicit choice of law provision - include when parties are in different provinces

6. Successors and Assigns: Provision regarding binding nature on successors - include for larger shareholdings

Suggested Schedules

1. Share Certificate Details: Copy or details of relevant share certificates

2. Transfer Form: Prescribed form for transfer of shares as required by the corporation

3. Company Details: Extract of company register showing current shareholding

4. Valuation Report: Independent valuation of shares (if required for tax purposes)

5. Corporate Authorization: Any required corporate approvals or board resolutions

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Financial Services

Family Business

Professional Services

Non-Profit and Charities

Private Equity

Real Estate

Manufacturing

Technology

Retail

Healthcare

Education

Agriculture

Relevant Teams

Legal

Finance

Corporate Secretariat

Tax

Compliance

Wealth Management

Corporate Governance

Risk Management

Private Client Services

Relevant Roles

Corporate Lawyer

Tax Advisor

Company Secretary

Chief Financial Officer

Estate Planner

Wealth Manager

Corporate Director

Compliance Officer

Legal Counsel

Financial Controller

Business Owner

Trust Officer

Philanthropic Advisor

Corporate Governance Specialist

Industries
Canada Business Corporations Act (CBCA): Federal legislation governing corporate matters including share transfers, registration requirements, and corporate record-keeping obligations
Securities Act (Provincial): Provincial legislation regulating the trading and transfer of securities, including private transfer of shares
Income Tax Act: Federal legislation governing tax implications of share transfers, including capital gains considerations and tax treatment of gifts
Provincial Property Law Acts: Provincial legislation governing the transfer of property, including requirements for valid gifts and deeds
Electronic Commerce Act (Provincial): Provincial legislation governing electronic signatures and documents, relevant if the deed is to be executed electronically
Personal Property Security Act (PPSA): Provincial legislation that may be relevant if the shares are subject to any security interests or encumbrances
Statute of Frauds (Provincial): Provincial legislation requiring certain types of contracts and transfers to be in writing and properly executed
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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