Have not been able to transfer shares of Inland American Real Estate Trust from the original trustees (Mother and Father, both deceased) to designated trustees (Sons) without obtaining seperate medallion signature guarantees. The sons live on opposite ends of the United States and it is impossible and not practical for both to appear at the same time and place to sign. It was finally agreed for each son to sign separately and submit their respective forms collectively, which was done. However in the process, Inland American Real Estate Trust changed transfer agents and would not accept one of the forms because it was from the previous transfer agent. This was not our fault that Inland American decided to change transfer agents and both forms should have been accepted. Now Inland American wants both brothers to appear at the same time and sign the form in front of a medallion guarantee individual which is not easy to find. My recommendation is to never get involved with this organization. They took our money without all the complexities but when it is time to carry out what is called for in the family trust documents, they are not customer friendly. No other brokerage firm that I have dealt with similar requests have gone to this extreme and have been very easy to deal with. Again, stay away from Inland American Real Estate Trust.
0 comments