Transfer the share in the society
minsal
(Querist) 04 April 2014
This query is : Resolved
Dear Experts,
“A” and “B” are the bothers, who have purchased a flat in the name of their mother wherein they were nominees. After the death of their mother, they applied before the society to transfer the said flat in their name. After obtaining the NOC from their father and sister the society has transferred the said flat in the name of the two brothers wherein “B” is first member and “A” is the joint member of the society in respect of the said flat.
After few years they purchased one more flat wherein “A” is the first member and “B” is the joint member of the society in respect of the said flat.
As per the mutual understanding they decided to separate their property hence in the first flat “A” applied to resign from his membership from the society and transfer his share in favour of his brother “B” and along with the said application, “B” filed one more application to join his wife’s name as joint member/holder of the society in respect of the said flat. “A” also did the same procedure in his society for his flat.
My quarry is that the procedures followed by “A” and “B” are proper? Because the society of “A” does not raise any objection for transfer of the said flat in the name of “A” and his wife but the advocate of “B’s” society asked “B" to get execute a gift deed from “A”!
Under the circumstances what should I do? I’ve prepared the documents for “A” & “B”. And now they come to me with such problem. Guide me Seniors Plz.
Regards.
ajay sethi
(Expert) 04 April 2014
even relinquishment deed would serve the purpose . since flat is in 2 names one of brothers can execute relinquishment deed for relinquishing his share in society .
mere resignation as member of society would not suffice .
gift deed or relinquishment deed should serve the purpose
T. Kalaiselvan, Advocate
(Expert) 06 April 2014
I agree with the opinion of the experts that a mere transfer of share by the society from one person to another will not be sufficient enough for a proper transfer of property as per law, there has to be registered transfer executed in any form namely: gift deed or relinquishment deed or settlement deed etc. So the B's advocate is right.
