My son attended an international preschool and had a corporate debenture. We kept the debenture because we knew my daughter would soon attend and then will transfer it to her. Now that she is of school age I contacted the school to transfer the debenture in her name. Since the time from when my son attended, the price of the debenture has gone up $30,000 HKD. The school is asking for the company to pay the difference to make the debenture valid for my daughter. My understanding of debentures is that it is a purchase and is valid no matter if the price went up after the date of purchase. It is like buying a house, if the property value goes up while owning it, you don't pay the original seller the difference. I have looked at the back of the debenture certificate and it states that it is transferrable but does not state any information about if the cost changes. I asked the school to provide some type of "terms and agreement" on their debenture policy and they were not able to. They said they never had this question come up before as the school is only about 4 years old.

Does anyone else know about transferring debentures when the purchase price changes afterwards?