Share Transfer in Hsg Soc


Case in point is as follows =-

1. A flat in Maharashtra under CIDCO was jointly in name of My father and mother.

2. They both had made a will stating that all proceeds should be devolved in my(son) name after both had expired. 

3. My father had also nominated my mother in prescribed nomination form with the society with 100% share being in her name.

4. On 23/07/2010 , my father expired leaving behind me and my mother.

5. 5 nos shares each of Rs 50 were held by my father and which I naw wish to be transferred in the name of my mother with all rights for sale/nomination also to be vested with my mother after transfer.

 

6. I am the ONLY child of my parents and hence part of class I descendant, other being my mother.

 

7. I have no objection to aforesaid transfer of shares and will issue NOC as required.Under such circumstances, I have requested the society committee memners to do the transfer based on -

a. Application with required fees as per prescribed form

b. Undertakings as required unde rural ceiling act as well as NOC form me

c. under taking in prescribed form for use of flat

 

I request legal guidance from lawyers/ persons dealing in Maharashtra co-operative housing and whether any other documentation would be required.

 

I am being asked for succession certificate by then society committee and would like to know whether this is really required, particularly in my case?

 

Please help

 

Thanks n regards

 

A A Bondre

 
Reply   
 
practicing advocate

Succession certificate is necessary to know who are the legal heirs of the deceased.


Total likes : 1 times

 
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Advocate

The board is competent to asess and fix the legal heir for the property on the basis of the nominations filed wiyth the society. Apply to the committe to accept your legal heirship and consequent changes in records.Simultaneously apply to the corporation to effect the change.


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REAL ESTATE CONSULTANT

IF NOMINATION IS FILED WITH  YOUR SOCIETY ,MANAGING COMMITTEE CAN TRANSFER SHARES IN NAME OF YOUR MOTHER PROVIDED YOU SUBMIT YOUR APPLICATION ALOGWITH DOCUMENTS YOU HAVE MENTIONED ABOVE. IF YOUR MOTHER DOES NOT HAVE ANY INCOME, YOU MAY BE ASKED TO GIVE THE ASSURANCE THAT YOU WILL PAY ALL MAINTANANCE CHARGES .

IF SOCIETY DO NOT TAKE ANY ACTION IN THE MATTER, YOU CAN APPROACH DEPUTY REGISTRAR OF CO-OPERATIVE SOCIETIES OF YOUR AREA TO REDRESS YOUR GRIEVENCES

 
Reply   
 

I fully agree with Mr. Vinay Shah. It is the duty of the Society/committee to transfer  to the name of the nominee.

 
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