Deletion of co-owner name from property by gift deed

Twinkle Parmar (Querist) 30 December 2024 This query is : Resolved
property is located at kharghar navi mumbai

property was in name of two brother, one brother paid stamp duty 1% gift deed and transfer his 50% share to other brother it is internal transfer

can society is asking for premium

pls advice

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A property owned by two brothers in Kharghar, Navi Mumbai, saw one brother transfer his 50% share to the other via a gift deed. The society is requesting a premium for this internal transfer. While a gift deed is the correct legal document for transferring property title, societies may charge transfer fees according to their bylaws. However, they cannot arbitrarily demand money for share transfers between joint members if not permitted by the State Cooperative Societies Act or Rules.

T. Kalaiselvan, Advocate (Expert) 30 December 2024
The society can demand the transfer fee as per the society bylaws

Dr. J C Vashista (Expert) 30 December 2024
Society cannot transfer title of the property.
Transfer of the property can be effected with legal document only.

kavksatyanarayana (Expert) 30 December 2024
To transfer the property into one's name, the other person shall execute a registered gift deed. The name may be changed only after paying transfer fees to the society.

Dr. J C Vashista (Expert) 31 December 2024
You are interested in transfer of ownership of the property in the name of co-owner or transfer of name in Society records ? You have mingled two different issues.
The society cannot ask any money for transfer of share in the name of joint member until State Cooperative Societies Act / Rules provide for charging such levies. It is illegal and invalid in terms of Delhi Cooperative Societies Act and Rules.

P. Venu (Expert) 03 January 2025
Does the transfer of property entail change share-holing in the Society? If so, how?

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