Transfer in Co-operative Society

Bipin (Querist) 26 March 2009 This query is : Resolved
Mr A & Mr B is real brother possessing flat in joint name. now Mr A want to gift his entire share in flat to Mr B (or viseversa) what document they have to prepare for them and for registered society for transfer the same.

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Adv.Shine Thomas (Expert) 27 March 2009
By a gift deed he has to transfer his share.

K.C.Suresh (Expert) 27 March 2009
By a settlement deed

M. PIRAVI PERUMAL (Expert) 27 March 2009
Through settlement deed.

PALNITKAR V.V. (Expert) 27 March 2009
It can be by way of gift deed or settlement deed. If the society is willing to effect mutation by simple transfer of shares, then you can transfer the share certificates in the name of B, take a letter from the society and effect mutation in the property record.

A. A. JOSE (Expert) 30 March 2009
Mr.Palnitkar has rightly answered and I thank him for the same.

Sushil Kumar Bhatia (Expert) 01 April 2009
By settlement you can surrender your right of ownership in favour of B

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