> ## Documentation Index
> Fetch the complete documentation index at: https://legal.belang.org/llms.txt
> Use this file to discover all available pages before exploring further.

# Transfer

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#### Personal and non-transferable

Options are personal and may not be transferred, pledged, or otherwise encumbered without the prior written consent of the Issuer.
Any transfer, pledge, or other disposition in violation of this restriction shall be void and entitle the Issuer to cancel the affected Options.

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#### Transfer upon death

In the event of the Option Holder’s death, any vested Options at that time shall transfer to the Option Holder’s heirs or legal successors, provided they notify the Issuer in writing within six (6) months after the date of death of their intention to exercise the Options.
Unvested Options lapse automatically.
The heirs succeed only to the rights of the Option Holder with respect to already vested Options and remain bound by these Terms.
The Issuer may require a certificate of inheritance or equivalent evidence before recognising any transfer or exercise.

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#### No transfer upon bankruptcy or guardianship

If the Option Holder is declared bankrupt, applies for suspension of payments, is placed under guardianship, or otherwise loses control or disposal over their assets, all Options shall immediately lapse and no transfer or exercise shall be permitted.

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#### Pledge and other dispositions

Options and Underlying Rights may not be pledged, assigned, or encumbered as security for obligations of the Option Holder or third parties.
Any attempt to do so shall be void and may result in cancellation in accordance with the Article Cancellation.