Question

Which type of endorsement transfers ownership to someone else?

Blank
Restrictive
Special
None of these

Answer 1

Special

Step-by-step explanation:

A payee performs a special endorsement when they want someone else to receive the check amount. It means the payee transfers the rights to the check payment or the asset to a third party. The payee is the person whose name appears on the front.

In the special endorsement, the payee writes at the back of the check or instrument, " pay to the order of'' and states the new recipient's name. The payee has to sign to confirm the endorsement.