A member of our housing society has applied for transfer of shares to his name. The application form does not carry the seller's signature, since the seller has permanantly left the country and is untraceable. The buyer has attached an affidavit stating that he is taking responsibility for all consequences.
Is it safe for the housing society committee to transfer the shares into the buyers name with this document proof? Do we need to get additional proof to this end?
Thanking you in advance for the response.
