Gift deed for a flat in cooperative housing society in wb
Pradeep Bhuin
(Querist) 02 January 2019
This query is : Resolved
Dear Sir/ Madam,
I have following query regarding Gift Deed and Transfer of Shares in CHS flat in Kolkata, West Bengal.
Please consider the below information:
1. My father (a Retired Central Govt. employee) is a member of a Cooperative Housing Society flat in Kolkata, West Bengal.
2. The society is registered, the physical possession is taken.
3. However, the Completion Certificate of the entire building is still not received and hence the INDIVIDUAL FLATS HAVE NOT BEEN REGISTERED ON THEIR OWNER's NAMES. We are currently waiting for the Completion Certificate.
4. SHARE CERTIFICATE is on my fathers name.
5. He has put my name as the Nominee in Society Registers.
Additional Information:
6. Funding of the said property (our flat) was done by me and hence it was agreed that while doing the registration of the property, it will be done on my name directly.
7. It was not possible to admit my name directly as a member in 2010, since the society at the time did not accept me as a member citing my then NRI status as a reason.
Queries:
1. Since my father is quite old now, and also as it was agreed from the beginning that the property will be registered directly on my name (when the property will be completed and Completion Certificate will be received) - Is it possible to register the property directly on my name without transferring the Share Certificate on my name? In other words, is it mandatory to transfer share certificate before the registration of the property or can it be done afterwards also?
2. Gift Deed - Can my father gift the property to me by the means of a Gift Deed BEFORE THE REGISTRATION OF THE PROPERTY?
If yes, then
2a) Is it mandatory to Transfer the Shares on my name before making Gift Deed, or the two are unrelated?
2b) Do we need society permission/ approval before making such Gift Deed?
2c) What are the documents required to make such Gift Deed?
3. Is there any Act/ rule which can Bar/ Stop me from being a member just because I am a NRI? Can the Society/ Registrar reject my application because I am NRI.
Any help/ expert advise will be highly appreciated.
Regards,
Pradeep
Isaac Gabriel
(Expert) 02 January 2019
Till registration it is the prorogative of the coop.society to idetify the person in whose name the sale deed to be made. The other formalities ie.nomination, etc.,could be done in accordance with the bylaw provisions.
M V Gupta
(Expert) 03 January 2019
From what you have stated I presume that yours is tenants cooperative housing Society. When once the Society is registered the share certificates/flats issued in the names of original members can be sold or gifted after complying with the bye laws. Find out from the bye laws of your Society whether prior intimation is to be given of the proposed sale / gift of the flat. If there is no such requirement the member can sell or gift the property and apply to the Society to transfer the share certificate in the name of of the buyer or the person to whom the flat is gifted. There is no prohibition to gift the property in your favor even if you are NRI with or without Overseas Citizen card issued by the Indian Embassy. The non issue of the completion certificate is immaterial for the above purpose..It is mandatory to execute and register the gift deed before applying for transfer of the share certificate / flat in to your name.
P. Venu 
(Expert) 03 January 2019
Facts posted suggests that your father can transfer or bequeath the property to you. The Membership in the Society would follow in due course.
Pradeep Bhuin
(Querist) 03 January 2019
Thank you very much for all the expert advises.
So, if the Society has no Objection to the property getting registered directly in my name, can we go for registration directly without changing/ transferring the Share Certificate first? Will the registration office ask for the Share certificate showing my name or is it not mandatory? I am asking this because we have seen it takes more than 6 months to get the approval from Co-operative Directorate Govt. of WB.
Secondly, if we don't get the Completion/ Occupancy Certificate (CC/ OC) soon, then we cannot do property registration now. In that case, can my father Gift the property thru a Gift Deed? Will the share transfer be mandatory for Gift Deed also?
Raj Kumar Makkad
(Expert) 13 March 2020
There is no requirement of the share certificate prior to registration of the gift deed. Gift can be made the property in every condition in which the same exists as on the day. Gift deed isr= required to be registered.
