This thread on stocks nudged me to ask this question. What hitch(es) are there in selling “odd lots” of stocks, which I understand is a quantity that isn’t a multiple of 100?
Some relatives are inheriting from their uncle, whose estate is mainly in stocks. Some of them want to have the stocks divided by the number of heirs and inherit the stocks directly, because they think he had good judgment in investments, and maybe there’s an emotional component here also.
Others think it OK for the executor to cash in all the stocks and divide up the money, and those who wish can then buy per the list of stocks Uncle used to have.
So are there relatively higher commissions, more delay, ???, in inheriting 1/7 of a lot and selling it later? (Not to mention the nuisance value to the executor of handling the fractional shares)
And what is the term for a non-odd lot?