Legal Question in Business Law in Canada
shares in a company
if you were giving shares in a company but you can not have them until 2015. and the person who gave them to you died do you get them before 2015? and if your spouse dies before 2015 does the other spouse receive those shares before 2015
1 Answer from Attorneys
Re: shares in a company
It depends. If you were actually given the shares now but they were to be held in escrow until 2015, then those shares belong to you and will be released to you according to the escrow agreement.
As to the spousal interest in the shares, it would depend on whether the donor of the shares intended to give them to the spouse (if not, then the spouse has no interest in the shares except under applicable matrimonial or division of family property legislation).
And in any event the spouse will have no greater interest than the person who was given the shares in the first place.
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