Exclusive HOLI Discounts!
Get Courses and Combos at Upto 50% OFF!
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Sumeet (Prop)     24 October 2011

Share certificate transfer

Dear Sir,

             I have Purchased a Flat form a person and got the papers and the agreement registered along with Stamp duty and Reg.. I did the above in the 7th month. Submited all the reg. papers with the building and even got a clearence(NOC)  from the anual general body meething of the CHS, the only formality remaning was the transfer of share certificates. Now suddenly a third party has sent a lawyers notice to the building asking them not to transfer the share certificates to the new owner (ie.ME) because the previous owner had borrowed some money around 30 lacs for Stock investment and did not return the same, the notice also mentions that if the CHS does transfer the share certificates in my name they will have to face stern legal action.

Please guide me as to what can be done in these circumstances. All my legal papers are clear and now the CHS fears in transfering the share certificates after receving this notice. Please guide me through and i have put all my life savings for the property.

Thanx



Learning

 3 Replies

adv. rajeev ( rajoo ) (practicing advocate)     24 October 2011

You have purchased the property thru., regd., sale deed, third person cannot calim it because by mere saying oor issuing a notice does not help him and without any court order against the society as not to transfer the share certificate, third person cannot restrict the society from transferring the share certificatein your name.

It is the bounded duty of the society to transfer the share certificates

1 Like

Sunil Sharma (Proprietor)     02 November 2011

What if the seller is adjudged as insolvent and matter referred to court. Can sale be treated as void

ABHINAV SAXENA   17 September 2015

Dear Sir,

I have purchased a flat in a cooperative Housing Society at G.B. Road-  Thane and have executed the Sale Deed through Sub-Registrar. I have received the peaceful vacant possession of the flat. I have paid the Entry Fee to the Society as well received the NOC from the society through Seller. I have been paying Maintenance Charges to the Society and they issue the receipt in my name. My name too has been incorporated on the name plate of the Society. I also got my name entered in the Electricity Bills as well as Property Tax Receipts. Noe question comes about the share certificate transfer in my name.

Now, I am getting difficulty in transferring the Share Certificate in my name due to lack of signature of the Seller on the prescribed forms. The seller is not cooperating and deny in signing the documents. 

Regards- A. Saxena
 


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register