cryptohunter
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When you want to pass on shares in a private company, there's a step-by-step process to make sure everything is legal and clear. First the person selling the shares talks with the potential buyer. They figure out the share price, how the payment works, and any other important stuff.
Once they agree on everything, they fill out a form called a stock transfer form (or form J30 in the UK). This form has details like the names and addresses of the buyer and seller, how many shares are being transferred, and the price they agreed on. Both parties sign it in front of a witness.
Then they send this completed form, along with the share certificate(s) and any needed fees, to the company. The company's big shots, the board of directors, check everything. If it all looks good to them, they update the company's records to show the new owner of the shares.
Once they agree on everything, they fill out a form called a stock transfer form (or form J30 in the UK). This form has details like the names and addresses of the buyer and seller, how many shares are being transferred, and the price they agreed on. Both parties sign it in front of a witness.
Then they send this completed form, along with the share certificate(s) and any needed fees, to the company. The company's big shots, the board of directors, check everything. If it all looks good to them, they update the company's records to show the new owner of the shares.