Property gift deed share transfer process co-op housing soc.


Shri T. Kalaiselvanji,

Thanks for resolving all my queries in detail?

To clarify the third query in my last message.

What i mean is, having property transfered by gift deed

am i eligible under bye-laws 38(e) for exemption of premium.

Or

this provision is only applicable to those

who receive property after death of property owner family member.

 
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My chairman believes that

exemption from premium is only available to those 

who receives property after the death of a owner family member.

 

He doesn't consider gift deed under family transfer.

 

That is why i asked for proper interpretation of last NOTE at the end of 38(e)

 

does it covers gift deed as family transfer.

 

 

 

NOTE:

 

This is the last question for my query  PART 2  regarding to share transfer process.

 

It ends here as PART 1 is answered and PART 2 is 99% complete.

 
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Dear Mr. Piyush Kumar,

The foot note clause is very clear that the exemption would be available only for such transfers after the death of the owner to his nominee/legal heirs/successors etc. and also in case of mutual exchange of flats among the members. 

This implies as it says that the exemption is granted only upon the transfers due to death, hence all other type of transfers, again excluding inter transfers (exchanges) among members on mutual basis is exempted, are not exempted from paying the premium amounts at the rate fixed by the general body meeting.  This means that the transfer through gift deed is not exempted and your chairman is legally right in his opinion.  You cannot justify the exemption comparing the same to the mutual exchanges of flats within members of the society, they cannot be penalised for this because they are still within the same society and the legal heirs of the deceased are given exemption as a mark of sympathy to the deceased member and to help the legal heirs from not burdening them with more such financial burdens.

Hope this clears your further queries too.(?)


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The last and final question is answered by Shri. T. Kalaiselvanji and it clarified every thing.

Now I can firmly say that all my queries are properly answered by  Shri. T. Kalaiselvanji.

At this last message I am thanking you  Shri. T. Kalaiselvanji from bottom of my heart,

as you have not only cleared my doubts but also saved me from a long legal battle.

I also thank 'lawyersclubindia' for having such a nice platform and elite members it really helps a lot.

 

NOTE:

This is the end of my query regarding “property gift deed and share transfer procedure”.

I hope this exercise  will benefit others and may serve as  a ready racknor.

 
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You are welcome for your appreciations.

 
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Dear Sir / mam

I am From Mumbai, Maharashtra , recently my aunt ( Mausi-mother's younger sister-unmarried) have gifted a flat to my mother by doing gift deed & since its sister to sister gift deed ,we need to pay 2% stampduty also. We have approached the secretary for transfe of share certificates in the name of my mother with copy of registered gift deed but they are demanding premium of 25000/- for said transfer, so is it valid to pay such transfer fees?


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I have a client who has given his flat to his daughter as a gift, he has already registered the documents. now for transfer process society is demanding Form No.4,21,25,26&23. My question is are these forms are common in both normal transfer & gift deed transfer or in both the process matter of these forms will be different?

 
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In the "Memorandum of Transfers of the Within Mentioned Shares" on the back of the Share Certificate, what is the "Transfer No." and in which Register is it to be found/recorded? What is the Regn. No. of Transferor and the Regn, No. of  Transferee? In which Register are these to be found/recorded?

 
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Registered gift deed was executed before society registration. Builder has given the possesion letter according to gift deed. But after society registration Chairman is demanding 25000 as transfer charges. Could you please let me know what should I do?

 
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Hi Sir,

Need to understand if all the appendix can be filled an submitted to society on a plain paper or on stamp paper + Notary.

If on stamp paper/franking, what is the value of same.

 
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