Dastavej and share certificate

Querist : Anonymous (Querist) 26 December 2020 This query is : Resolved
Hello, I am living in a co. op. housing society. There are around 70 houses and society is built around 60 years ago. In today's situation in most of the houses two or three families are living by dividing house in front & back or in different floors. Now society has given one share certificate to one house. There are no Dastavej done for any house yet. In our case house is in the name of my grand mother and share certificate is also in the name of my grand mother. Scoiety is saying that in the share certificate there could be a name of one person only, they can't allote a share certificate having two names (of my father & uncle) My question is why is this so?I want to make property in a separate names i.e one portion is in name of my uncle and other one in name of my father. They both should be free to sale or take a loan on their portion of the property without any one's sign or consent. Can you please suggest some way out of it? If yo are suggesting to do dastavej that how much it will cost to each parties? Thank you.

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Isaac Gabriel (Expert) 26 December 2020
Family members could become associate member/ Nominee when the right is assigned to use the house/flat as per the bylaws. In respect of partitioning, it should be done in accordance with the rules in force by remitting the charges fixed.

P. Venu

(Expert) 27 December 2020
To my knowledge, this could be effected through "deemed conveyance", if such a system is prevalent in your State.

Dr J C Vashista (Expert) 28 December 2020
The Society can issue share certificate in joint names on the basis of valid documents.
It is better to consult and engage a local prudent lawyer for better appreciation of facts/ documents, professional advise and necessary proceeding.

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