A family member has died and held shares. What happens now?
The short answer
The shares do not disappear and they are not absorbed by the company. They pass to the people entitled to them, through a process called transmission — a change of record based on entitlement rather than a sale.
What the registrar will accept as proof depends on three things: whether a nomination was registered, whether there is a will, and how many people are entitled. Establishing which of those applies is the first real step, because it determines whether this is straightforward or lengthy.
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