Right of the first holder to sell
Querist :
Anonymous
(Querist) 12 July 2011
This query is : Resolved
i want to sell my flat in which i am first holder and my father was second holder. he expired in 2001, even before formation of my building's society with no nominee, no will. i submit a required form along with his death certificate. Name plate in first holder's name displayed in Society Bldg, maintenance paid by first holder since possesssion. however by mistake share certificate issued by the society in joint name (on my and my father's name). my counselor given me advice for the given case as follows:
Seller is the first holder of flat and thus carries absolute right to sell it
Second holder has expired long back in 2001 , even before formation of society , with no nominee , no will , and thus case of tranmisssion deosnot apply
Form filed in first holder's name to registrar while forming society alongwith death certificate copy - Name plate in first holder's name displayed in Society Bldg, maintenance paid by first holder since possesssion
Share certificate issued in joint name by society doesn't pose any problem to buyer interests in property
All forms of transmission not required as first holder has recd a NOC from old commiittee as well two years back for taking loan , declaring him the owner of flat
Any claim whatsoever in any case of second holder"s remaining hiers are even barred by law of limitation and have become time barred after lapse of more than ten years of secondholder's death
Society NOC is already issued in favour of sale of falt in first holder;'s name and thus no more formalities required
Affidavit of first holder and legal heirs may be given if at all stressed on by the buyer safeguarding his interests
Kindly advice if the abovementioned counselling is tenable under norms of relevant laws
prabhakar singh
(Expert) 12 July 2011
A SHARE CERTIFICATE CAN NOT BE ISSSUED IN NAME OF A DEAD PERSON,HENCE IF DEATH DATE IS NOT IN DISPUTE THEN YOU ARE ABSOLUTE OWNER IN MY VIEW.
