Transfer by a proposed society
Manoj
(Querist) 29 December 2011
This query is : Resolved
A land is purchased by a secretary/chairman of a proposed society in the year 1976. Then the same promoters/secretary formed a society in the same name except removing the word “proposed” from the name and get is registered in the year 2003. Then proposed society execute a deed of assignment without consideration in favour of Society that is registered with the same name except the word proposed
1) Is the deed of assignment valid.
2) Can a proposed society purchase land in this manner and then register itself with the same name in Gujarat Co-op. Societies Act. Then the proposed society execute deed of assignment without consideration. Does the registered society in whose favour such assignment is made a legal owner
3) residential units are constructed on this land, can purchase of this land be considered as lawfully does it make the purchaser a legal owner.
4) what title does the purchaser get in this case.
prabhakar singh
(Expert) 30 December 2011
Very interesting indeed.It seems all gone so far without any legal help!?!?!
1) Is the deed of assignment valid.
NO!
2) Can a proposed society purchase land in this manner and then register itself with the same name in Gujarat Co-op. Societies Act. Then the proposed society execute deed of assignment without consideration. Does the registered society in whose favour such assignment is made a legal owner
NO!
3) residential units are constructed on this land, can purchase of this land be considered as lawfully does it make the purchaser a legal owner.
No!
4) what title does the purchaser get in this case.
None!
BUT ALL CAN GET Regularized if the deed of transfer in favor of each of the buyer is each time signed by the person(s) who bought first in name of proposed society in his personal capacity in addition to the society now registered and claiming the assignment.DOING IT THIS WAY THERE SHALL BE NO RISK TO THE PRESENT BUYERS IN ACQUIRING FARE TITLE.
prabhakar singh
(Expert) 30 December 2011
Very interesting indeed.It seems all gone so far without any legal help!?!?!
1) Is the deed of assignment valid.
NO!
2) Can a proposed society purchase land in this manner and then register itself with the same name in Gujarat Co-op. Societies Act. Then the proposed society execute deed of assignment without consideration. Does the registered society in whose favour such assignment is made a legal owner
NO!
3) residential units are constructed on this land, can purchase of this land be considered as lawfully does it make the purchaser a legal owner.
No!
4) what title does the purchaser get in this case.
None!
BUT ALL CAN GET Regularized if the deed of transfer in favor of each of the buyer is each time signed by the person(s) who bought first in name of proposed society in his personal capacity in addition to the society now registered and claiming the assignment.DOING IT THIS WAY THERE SHALL BE NO RISK TO THE PRESENT BUYERS IN ACQUIRING FARE TITLE.
Manoj
(Querist) 30 December 2011
Thank You Sir for your expert opinion.
