Computershare recently took over the dividend re-investment program (DRIP) for Microsoft.When they took over my kids' account (which has three names on it), Computershare changed the registration from Joint Tenants With Rights of Surviorship (JT WROS) to JT TEN.As I understand it, some states consider these registrations to be the same...but not all. Since the three names on the account live in three different states (NY, WA, and NC), I called Computershare and asked them to change it back to JT WROS. That was a week or two ago.They just called this morning, and said they were not going to make the change because there is no difference in the registration.So I just called investor relations at microsoft and left them a message that I was pissed off...and can Computershare make this registration change with no ones consent? Hopefully this will get squared away quickly.Any words of wisdom?
Well, there are (generally) two ways to register "property" - as "joint tenants with right of survivor," and as "tenants in common" (which is presumed to be equally owned by the parties, with no survivorship rights to those who survive one of the parties deaths (i.e. the deceased party can "will" their share to whomever - or it follows the state's statute of descent)). It may be that Computershare has a different designation for "tenants in common" and use JT TEN to indicate "with right of survivor." I'd ask them 1) to verify that their designation of JT TEN is "with right of survivor" and distinct from another designation of "tenants in common" - and if that is the case, have them verify it in writing. If they are "clueless" then escalate it....
Thanx much for the reply. If you're ever around Reno, very northern california, or Ashevill NC this winter let me know, I'll buy you a beer (or a coke)
in the summer, Ashville in the winter? Either is worth the trip!
Off to Asheville soon to do daycare for a new grandson. Did the same thing a few years ago. I "worked" for the single-A baseball team there, the Asheville Tourists, it was great. Any job that involves brauts, beer and baseball can't be bad.
We'll miss it this year, but its also the location of the Beer City Cup...which claims to be the largest amateur soccer tournament anyplace. All levels of teams, in all possible age divisions, some from overseas, converge on Asheville on Labor Day week end for this tournament. Its unreal. Hopefully will be another one in 2020.
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