Nancy's Aunt Ethel died, making Nancy executrix of her estate. In going through Aunt Ethel's belongings, Nancy discovered some stock certificates that she learned had been issued by a small New Jersey firm that was still in business. The problem lay in the fact that Nancy's Aunt Ethel had moved from New Jersey to Florida years ago, and the stock is registered only in the state of New Jersey. Nancy herself is a resident of Massachusetts. What does Nancy have to do in order to sell this stock?

Question

Quizplus · Accepted Answer

Nancy can sell the stock without a problem as executrix of her aunt's estate. This is considered to be a fiduciary transaction and, as such, it is an exempt transaction.

Nancy's Aunt Ethel Died, Making Nancy Executrix of Her Estate