WATER STOCK TRANSFER INSTRUCTION
Individuals who purchase property within the Lincoln Avenue service area are required to become shareholders of the company. New owners will receive a water stock certificate which entitles them to receive water service and gives the shareholder certain rights and privileges regarding the operation of the company.
When a change in property ownership occurs, the water stock must be transferred to the new owner.
The following steps are required to transfer a Water Stock Certificate:
- Seller must return the Water Stock Certificate that was assigned to them and sign the back of the certificate. Return the cancelled certificate to the Company or to the Escrow Company processing the sale of the property. If you are unable to locate the original Water Stock Certificate a Lost Certificate Affidavit may be executed.
- The new owner of the property must provide proof of ownership. A document such as the Grant Deed, Deed of Trust, Trustee’s Deed, Family Trust or Escrow closing statement stating the name of the legal property owner is acceptable.
- A fee of $100.00 must be paid to process a Water Stock Certificate transfer.
- A new Water Stock Certificate will be issued to the new owner of record.
- An additional fee of $100.00 must be paid when filing a Lost Certificate Affidavit form. This document is furnished by the Company and must be signed and notarized.
- If the Shareholder of record is deceased. A new Water Stock Certificate may be issued at no cost to the family members inheriting the property by providing a copy of a Death Certificate along with proof of property ownership.