Urgent - society share certificate not issued

Ria (Querist) 05 March 2011 This query is : Resolved
Respected experts,

Our's is a registered housing society with 12 flats, land has been mortgaged to Air India for 34 lakhs,the loan amount had been divided among individual Air Indian members.

Recently some of the retired members sold their flats thats is 8 flats to non Air Indians after obtaining an NOC from Air India.However 7 of them have not been issued a certificate.

Only I have received the share certificate ie. 1 person. Howvever the other 7 people who have purchased the flat (as shown in society records) don't seem to be bothered about not being issued the share certificate.

1) Can a person be considered as an owner of the flat if share certificate has not been issued ?

2) What can be the reason that share certificate has not been issued and purchasers not bothered or is it that originally they haven't purchased the flat ?

3) Can a person who has not been issued the share certificate of the society become a Secretary/treasurer of the society ?

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Guest (Expert) 05 March 2011
Dear Ria,

There is a clear difference between transferring the membership of society and transferring a flat of a sociey by a member of the society to the purchaser of the flat.

Unless shares are formally transferred with due registration with the society by the concerned member to the purchaser of the flat, the later cannot automatically become a member of the society. The question of becoming a non-member, as a Secretary or Treasurer of the Society would not arise. Even he won't have any voting right in the housing society. Only duly registered members of the society can participate in the affairs of the society. Ownership of the flat cannot however be challenged, if has a legally registered deed or lease deed.

PS Dhingra
Chief Executive Officer
Dhingra Group of Management & Vigilance Consultants
New Delhi-110089
Mobile: 09968076381
[dcgroup1962@gmail.com]

Advocate. Arunagiri (Expert) 05 March 2011
What is the conditions imposed by the Air India at the time of alotment regarding the alienation of the property?