Transfer of shares in co-operative society
Raj
(Querist) 29 May 2016
This query is : Resolved
Case history:
1. A flat was jointly purchased by my MOTHER (1st name in society records and share certificate) and my MOTHER's MATERNAL UNCLE (2nd name) in 1986 in co-operative society.
2. Maternal uncle filed a case for full possession of the flat in 1997.
3. He expired in 1997. He has 6 legal heirs. 5 of them gave their POA to one and the remaining was named as defendant.
4. My mother passed away in 2015.
5. After 18 years the case was dismissed by default and proceeding closed by City Civil Court (dismissed by default). The NOM to re-open the case was also dismissed.
6. Before filing the case Uncle through a transfer deed transferred his share to my Mother through Notary (no registration).
7. His legal heirs claimed that the transfer deed was obtained by force and it should be declared null and void. Therefore the court passed an ex-partee decree to hand over possession of the flat to the legal heirs (one with POA). However the decree was later set aside through an appeal in High Court.
Queries:
1. Is the Transfer Deed still valid?
2. If its still valid can I get the entire shares of flat transferred in my name?
3. My mother and uncle submitted my nomination to society in 1986 another a different name but that nomination was not stamped and is not being recognised by society so what steps can I take to do that?
You response will be very helpful. I will be much obliged.
Kumar Doab
(Expert) 29 May 2016
The said flat is in which state?
Why the society is not recognizing nomination? Has it related it with its internal records?
Apparently: It has been a waste of time for everyone. NO valid deed was ever executed by anyone.
The share of your mother may devolve equally upon her successors/legal heirs e.g; spouse/children
The share of your uncle may devolve equally upon his ClassI legal heirs e.g; spouse/children
Raj
(Querist) 29 May 2016
Thanks Mr Kumar Doab.
1. I am the only legal heir (only son) of my mother.
2. I am in current possession of the flat after her death in 2015 and have been paying the society dues etc.
3. The society is not recognizing the nomination because the nomination form copy was not stamped and original nomination form in society records has been destroyed in floods (as claimed by them).
Queries:
1. Why is the transfer deed not valid?
2. I do not want to let go of the flat due to sentimental reasons and possibility of settlement is remote. What options do I have in such a scenario?
3. The society has not admitted my as a member. The share certificate is in joint name of previous owners. Can I get atleast my name in place of my mother being her only legal heir. If yes how?
Kumar Doab
(Expert) 30 May 2016
Hope you shall take it positively.
It is said that a person get wise when person is sick............... facing litigation.
You have been mired in litigation for many years. By now you would have understood the merits and demerits in your case and options that are open to all parties.
Any deed that shall alter the ownership has to be registered and appropriate stamp/tax duty to be paid.
Your or anyone's emotion does not matter and law/rules can not be violated.
Rest has already been replied.
You can check with society.
It is almost certain that now society may ask for succession certificate/letter of administration, to transfer the ownership to you.
Try to buy share of other deceased owner, from legal heirs of other owner.
Take care that everyone signs on sale deed.
You have not posted: What is the opinion of your own counsel?
Raj
(Querist) 30 May 2016
Thanks for the realistic reply Mr Kumar.
My own counsel says that the matter is now in a LIMBO. Nothing more can be done when settlement is not possible.
Regarding succession certificate I have started the process of getting one.
Queries:
1. For the succession certificate do I have to pay stamp duty on the MARKET VALUE of flat or on the VALUE of shares held by my mother?
2. The society will undergo redevelopment in next 1 year. Will I lose possession of the flat in such a case?
Rajendra K Goyal
(Expert) 30 May 2016
Stamp has to be calculated as per circle / collector rate in the area.
Getting legal heir certificate is another option, discuss with the society.
If society go for redevelopment, discuss terms with your lawyer and get guidance in detail.
Kumar Doab
(Expert) 30 May 2016
The society bye laws do have options without probate/succession certificate/letter of administration e.g. pasting notice for 30days and inviting objections etc..............
GO thru bye laws.
You certainly need to engage an able counsel for your requirements.
Your counsel can inform you of all charges.
Or visit court complex and find out or browse thru websites.
Kumar Doab
(Expert) 30 May 2016
You may find the post in following thread of use:
http://www.lawyersclubindia.com/experts/Employees-compensation-act-1923-598516.asp
Engage an able counsel.
Spend quality time with your counsel.
Raj
(Querist) 30 May 2016
Thank you Mr Kumar Doab and Mr Rajendra Goyal
I have a better understanding of my matter now.
My mother passed away from cancer last year. I know that law does not consider emotions but it is the very reason why I continue to fight.
Today or tomorrow I will find a solution to this problem.
I hope you will continue to guide me in case I need any further help. I cannot thank you enough and I am much obliged.
Kumar Doab
(Expert) 30 May 2016
You are welcome.
It is good to see that some authors do come back to post their thanks to Experts/Contributors.
Your inheritance is your right.
Your lawyer must have discussed the strategy with you to bring the party to table for settlement.
However the other party has also acted.
Some laws and applications varies from state to state.
Try to consult in advance, than acting on your own.
Best Wishes.
