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DINESH P THAPAR   28 August 2018

Gift deed to the co-owner

A person and his mother jointly own a flat in mumbai and there names appear on the Share Certificate issued by the co-operative society.  He gifts his share in the flat to his mother (the co-owner) vide a registered Gift Deed.

Can the Society insist on payment of Premium/Fees for the above transaction?



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 1 Replies

kirti kabra   28 August 2018

Apart from nominal transfer charges, the society cannot levy any extra charges which will be ultra vire or contrary to the bye-laws.  If the society is demanding the same, ask them to give in writing after which you can resort to legal course of action as envisaged in law.

 

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