Replies to post #2086 on Super Hero Justice League Team America.

[dffhogs]

Posted by: 4Godnwv
In reply to: Shamantiks who wrote msg# 87796 Date:8/24/2007 3:51:19 PM
Post #of 87809

Misconception -

The certs are no longer in your name. If they were, and you deposited them into the foundation, and were given a PDR (Pan American Depository Receipt) you could not transfer the PDR to a 3rd party.

Think of it this way. You park your car in a parking garage. They give you a receipt. Anyone who has that receipt can pick up that car. But the car would still be in your name.

So...you sign the title before you leave.

Now anyone that has the receipt can pick up the car and it becomes their asset to transfer, if they so choose. As long as they don't take the 'title' out of the parking garage safe, they can then re-park the car the next day and transfer the receipt to someone else.

In much the same way, as long as the certs stay in the foundation, the PDR's can be transferred among any beneficiaries.

Someone can, however, choose to take the title of the car (cert) out of the parking garage safe (foundation) at any time and then sell it on the open market.

Note: This explanation is not intended to be technically correct, just easy to understand. Hope it helps.