Blank Transfer - Definition - Law Dictionary Home Dictionary Definition blank-transfer

Definition :

Blank transfer, in such blank transfers, the name of the transferor is entered, and the transfer deed signed by the transferor is handed over with the share scrip to the transferee, who, if he so chooses, completes the transfer by entering his name and then applying to the company to register his name in place of the previous holder of the share, Howrah Trading Co v. CIT, AIR 1959 SC 775 (778). [Income-tax Act (11 of 1922) s. 18(5)]

--A deed executed with the name of a transferee or vendee in blank is void; but the lender will have an equitable security, Colonial Bank v. Whinney, (1884) 26 CD 257, and this principle is applicable to transfers of shares in companies transferable only by deed; but if transferable under hand only the transfer may be filled in by any one having express authority, or authority to be implied from the nature of the transaction, Hibblewhite v. McMorine, 6 M&W 200, and Powell v. London, etc. Bank, (1893) 2 Ch 555.

If in a will the name of a legatee is left blank, the Court may sometimes be able to ascertain from the context who was intended to take (Re Harrison, (1885) 30 Ch D 390). Parol evidence is never admissible to fill in the blank. See Theobald on Wills.