B.M.Agrawal (Marketing Executive) 03 August 2014

Co-opertive housing society

Hi,

I had purchased 2 flats with joint ownership with 1 share certificate in co-operative housing society in

1981. Now due to financial trouble I want to sell 1 flat out of 2 flats which are joined. Since I have one

share certificate in joint name for both the flats. Buyer is asking me for share certificate.

Suggest me what I should do. Whether Society can issue 2 separate for each flat in the name of

individuals ( each of 2 owners). Also suggest the procedure and documentation.

Awaiting your reply.

Best Regards

B.M.Agrawal

brij_agrawal1947@yahoo.com

9819889566

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3 Replies

Dr J C Vashista (Advocate) 03 August 2014

Number of flats purchased is immetarial with respect to share certificate.

The (basic) share you have purchased entitiles you to be a member of the CHS. The CHS shall not issue separate share certificate for individual flat.

In order to advise and guide you properly it is imperative to engage a local lawyer practicing in Societies Act/ Rules and Bye-Laws adopted by your society. The Cooperative Societies Act/Rule are State subject and may slightly differ with other State Act/ Rules.

Dr. J C Vashista, Advocate, Delhi High Court

email: majjagdish@yahoo.com