Transfer of share

Dear Ryan Pereira,

Beware the Nomination does not confer absolute title on the nominees.

Strictly and legally speaking other legal heirs too would have share in it, nominees just act like trustees of the Nominator. Generally it does not happen but other legal heirs, say any remaining sibling or the spouse of the deceased can claim their share despite the nomination.

Society's stand is correct but you can still purchase the flat if all the legal heirs sign the transfer deed and register it.

Thank you sir for your response.However my bigger concern is the time period from the time of transfer to the nominees is less than 1 year ( transfer request is March 2011) before which the sale of the flat is happening and hence even the Bank is not willing to sanction the loan.

Thanks

Dear Ryan Pereira,

I agree with Mr.  Sheikh ,

Nominee is only a Care taker, to pay Maintenance and to do needful in case of death of the Member, till the Legal heirs claim and transfer the Flat on their name. 

care taker/ Nominees atr not the Owner, nor a member of Society. 

However, SC judgment protects the Purchaser, That Even Nominee can sell the Flat, subject to  any claim of legal heir. 

Beware, Children's Property  cannot be sold  without Court Order, Minor's Property need  Court Order, even their  own parents cannot sell it w/o Court Order. 

As far as One year Limitation is concern, you can purchase the Flat and possess it, use it, or deal with it as you like (e.g. Give on LL Basis  etc)

Only, the transfer on Share Certificate will be on completion of One Year of previous member. 

 it only delay transfer. 

Adv Shroff

09-12-2011

Thank you all for your response