Friends please let me know if share certificates can be issued to a person owning a garage in a co-operative housing society in mumbai?since the society is 25plus years old,can the managing commitee issue new share certificates to such a person ?
adv fauzia azim (advocate) 17 January 2011
Friends please let me know if share certificates can be issued to a person owning a garage in a co-operative housing society in mumbai?since the society is 25plus years old,can the managing commitee issue new share certificates to such a person ?
Isaac Gabriel (Advocate) 17 January 2011
The membership no.is of paramount importance in a Cooperative society which is assinged on admission.His name is entered in the membership register and the amount of shares allotted/ taken by him is simultaneously entered . An extract is issued which is otherwise called share certificate. The membership rights could be availed by succession as stipulated in the bylaws. Therefore you can infer the importance of the share certificate of cooperative society
Bharatkumar (ADVOCATE ) 17 January 2011
Society Share Certificate is very important document for property, but it is given for property like :- flat, office, plot, shop, showroom etc.... u r owner of Garage property? Society give a alllotment latter for this? As per plan pass garage is one unit? u r owner / allotee of flat only so society give a share certificate on this ftat only. u contect local lawyer for this.
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