THE TRANSFER OF BEARER BONDS IN THE DUTCH CARIBBEAN
No deed required
Under the laws of the Dutch Caribbean (Aruba, Bonaire, Curacao, St. Maarten) transferring the title of bearer bonds (i.e. bonds which are owned by whoever is holding them, rather than having a registered owner) does not require a transfer deed. In other words: such a bond is transferred by surrendering the original document. The transfer of ownership is thus accomplished simply by the transfer of said document.
Under Dutch Caribbean international private law, the general rule is that the ‘lex rei sitae’ determines who holds legal title to movable assets (such as bearer bonds) and whether and how they may be transferred. In other words, this is determined by the laws of the country in which the bearer bonds are actually located. Therefore, if bearer bonds which are issued by a Curaçao company are physically in Belgium, for example, the laws of Belgium determine whether and how they may be transferred.
Karel Frielink
Attorney (Lawyer) / Partner
(20 September 2012)
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