Share certificate

Swapnil (Querist) 15 March 2017 This query is : Resolved
I have purchased under construction 2 BHK flat in 2010. At the time of purchase I have kept my father as second owner. Our both names are reflected on Index 2. All the payments are occurred from my bank account. After 2 years (May 2012) from flat purchase my father made a gift registered agreement and transfer flat towards my name. We got flat possession in July 2013 and society was formed in Nov 2014. After society formation I have submitted both Index 2 to society and requested them to make update in there record and give me the Share Certificate accordingly. As per my request society has given me share certificate and mention only my name on share certificate. After couple of years when new society body formed they told me share certificate which was given to me by last society comity was wrong. They told me Share certificate must contained flat owners which was mention in first index2 document. Please advise me what should I do

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Kishor Mehta (Expert) 16 March 2017
Sir,
A registered CHS has to issue share certificate in the names as shown in the registered document to the flat and in that order.
You had better get a registered release deed from your father.
Good luck,
Kishor Mehta

Swapnil (Querist) 16 March 2017
Need some more clarification.... in my case before CHS registered .... two registered agreement occurred (sale agreement with Builder and Gift deed with father) . Under such situations whose name should reflect on share certificate.....

Rajendra K Goyal (Expert) 16 March 2017
Documents need to be referred, show all related documents and discuss with local lawyer.

Ms.Usha Kapoor (Expert) 17 March 2017
Agree with Experts.

Swapnil (Querist) 11 April 2017
Hello,

After the opinion from all, I took legal opinion from Advocate. As per law at the time of society registration we should consider current owner of property (as per latest INDEX 2) and his name should present on share certificate.

Guest (Expert) 11 April 2017
Property transfer by gift and share transfer are two different legal events. Share should not have been issued in your lone name, unless share transfer application on prescribed form would have been signed and submitted to the society by your father.

You may do that formality now to get the share certificate registered in your own single name.

Swapnil (Querist) 11 April 2017
Dhingra Sir Thanks for reply.... but sir I have one confusion..... at the time of society formation according to gift deed I am a only owner of flat in that case why should my father signed and submit transfer application?

Guest (Expert) 11 April 2017
Depends upon the original allotment letter and or the nature of membership of the society, whether in single name or joint name. You have not discussed on these issues in your description.

Swapnil (Querist) 11 April 2017
Sir please suggest me, now what should I do?

Guest (Expert) 11 April 2017
I have replied your message also. You may like to see that.

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