co.op.society

ADVOCATE

Registered co.op.housing society ltd Organised Residential Plot and give each member share certificate,

my client also member of this society  and alloted one plot admesuring about 300 sq.miter.

my client given application  to municipal corporation  for revised plan for his plot to divide two part of each 150 sq.miter.

thereafter my client sale two plot to different two party.

my question is society can give two share certificate two different purchaser

and revocked main certificate which is given my client.

yours sincerely.... 

 
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Advocate

If the society has issued sale deed, it cannot question the action in dividing and selling the plot. If  alease cum sale agreement is given for the plot, the sale may not be valid, and the society can take back the plot for violation of conditions.


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ADVOCATE

society also issued sale deed in admesuring 300 sq.miters and share certificate

there after my client put revised plan with permission society president 

my question is if society can allot or not two share certificate two different purcheser and by-back main certificate it is valid or not

my client also executed two different saledeed two different purcheser

 
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Advocate

So far as the society is concerned, you are the memebre and you have all rights entitled to a member unless your membershi is cancelled.For the purchasers, the society is bound to act in accordaqnce with the bylaws.

 
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ADVOCATE

in bylaw there is no mention regarding divide shere certificate,

my question is my client original share certificate buback by society and than issued two different share certificate to two different purcheser it is valid or not. 

 
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Advocate

Valid. Presumably the member who sells the property is deemed to have closed his membership and get back his share amount from the society.


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