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How do I sell shares for an Estate? One Off Sales

  • Updated

Australian Residents:
To sell a parcel of shares or holdings for an Australian estate, simply download and complete our One Off Sales form and submit via email to service@openmarkets.com.au

Along with:

  1. A copy of each executor's driver licence (front & back)
  2. A copy of each executor's passport or Medicare card
  3. A copy of a recent holding(s) or dividend statement(s)
  4. A copy of the current bank statement no more than 3 months old (this must match the account nominated for credit of sale proceeds)*
  5. A certified copy of the Grant of Probate

*Sale proceeds can be paid into either one executor's individual account, a joint account in all executors' names, an account designated in the name of the estate or a law firm's trust account.  

Please carefully review our approved certifiers and note certification must be within the last 3 months.

International Residents:

To sell a parcel of shares or holdings for an overseas estate, simply download and complete our 
One Off Sales form and submit via post to OpenMarkets which powers OpenTrader:

OpenMarkets Australia Limited
Suite 3, Level 5
500 Collins Street
Melbourne VIC 3000
Australia

Along with:

  1. An originally certified copy of each executor's passport
  2. An originally certified copy of each executor's driver licence
  3. A copy of a recent holding(s) or dividend statement(s)
  4. A copy of each executor's utility bill - dated within the last 3 months.
  5. A copy of the current bank statement - dated within the last 3 months.
    (this must match the account nominated for credit of sale proceeds)*
  6. A certified copy of the Grant of Probate (resealed in Australia)
*Sale proceeds can be paid into either one executor's individual account, a joint account in all executors' names, an account designated in the name of the estate or a law firm's trust account.  
 
Please carefully review our approved certifiers and note certification must be within the last 3 months.

What happens next?

  1. Once received and if your application has been successful, your application will be processed within 5-7 business days
  2. The holdings will be sold ‘at market’ by our Trading Desk at the time the application is processed (i.e. the best bid price the market is offering at the time the order is placed)
  3. You will receive a Trade Confirmation via email once your Sell order(s) have executed
  4. Sale proceeds will be deposited into the nominated bank account two business days after the trade date, minus OpenMarkets' brokerage fee of min. $200 or 1.5% per trade including GST (whichever is greater). An additional fee of AUD$100 is charged per Telegraphic Transfer of funds into an international bank account.

If you have any questions or need help, don't hesitate to get in touch 🙋

You can reach us on live chat or over the phone on 1800 OT TEAM (1800 688 326 or +61 2 9055 4400 for overseas). We're available between 9:00 am and 5:00 pm (Sydney time), Monday to Friday. If we're away, just send us a message and we'll get back to you.

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