Upgrad LLM

Co-operative Housing Societies

This query is : Resolved 
 

Online (Querist)
07 March 2018

Ownership of the property rests with the Co-operative Housing Societies, flats are allotted to share holders of the Society for residential purposes, they are not absolute owners of the flats. Under the circumstances what value will be considered for the assessment of the court fees when the share of the deceased husband is transferred to the wife, (1) the market value of the flat? (2) or the face value of the share certificate? Please understand that the share holder is not the absolute owner of the flat and the shares of the Society are not traded in the market.
Kishor Mehta


Suhail A.Siddiqui (Expert)
08 March 2018

Market value of Flat since you will never agree to sell on share cretificate face value.

Suhail A.Siddiqui (Expert)
08 March 2018

Market value of Flat since you will never agree to sell on share cretificate face value.

Suhail A.Siddiqui (Expert)
08 March 2018

Market value of Flat since you will never agree to sell on share cretificate face value.

Kishor MehtaOnline (Querist)
08 March 2018

There is no question of selling the property, this is about the applicable court fee in the event of the transfer of the share of the deceased husband to the wife. Co-operative society members are not absolute owners of the flats, but they are allottees by virtue of their being share holders of the Society.

Dr J C VashistaOnline (Expert)
11 March 2018

The member is being allotted a specific area (out of common area of the society) which is on a perpetual lease, if the same has not been converted into "FREEHOLD" as per rules of the lessor authority.
However, market valve has to be much higher than the "circle rate", if the same has been prescribed/ applicable in your state/ case. Whatsoever, it can not be the value of share.



You need to be the querist or approved LAWyersclub expert to take part in this query .


Click here to login now



Similar Resolved Queries :









×

Menu

CrPC MASTERCLASS!     |    x