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How do you sell or cash in a municipal bond?
I found a municipal bond that matured in 2007 and belonged to my grandfather, worth $5,000 plus interest. Is the certificate itself worth cash? If so, how do you go about cashing it? Do I need to contact a broker?
I forgot to mention that my grandfather passed away in 2006.
2 Answers
- A nobodyLv 71 decade agoFavorite Answer
You have your choice - take it to a broker/dealer, or send it to the Trustee whose name appears on the front of the bond.
If your going to use the Trustee, send them a copy and they will get you started. You will have to surrender the bond when all the paper work as been gathered.
They will tell you what paper work you will need, and in most cases have some of it availabe )brokerage firms donot have the required documents you will need), some you will have to get from the municipality in which you grandfather died.
Source(s): industry experience - Anonymous1 decade ago
It is not yours - is your grandfather deceased?
