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legalmatter   01 March 2015

Housing society flat transfer through gift deed

Hello everyone,

Society has received an application for flat transfer through gift deed from mother in law to jointly granddaughter and  daughter in law. What is the process to transfer the flat? What are the papers to be taken from the member. Further the doner doesnt stay in society so society has no idea whether gift deed has been executed by her consent. What should society do?

Secondly Please tell Does it attract transfer fee of 25000.?

Should the transfer of flat done in agm only or before that also it can be done?

Regards



Learning

 8 Replies

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     07 May 2015

Please state in which State and city is your Society. Is it a co-operative housing society?

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108)     15 June 2015

1.  IF the "Gift Deed", is duly registered, THEN the Society is bound to Transfer the Membership to the "Donee" (granddaughter and  daughter in law)  WITHOUT taking 25000/- (Share Transfer Premium).  Only the Form no. 4 & 23, is required, alongwith 500/- as "membership transfer fee" and 200/- as "membership entrance fee"


2.  The authority to scrutiny the membership documents is vested with the Mg.Committee members and not with the General Body (AGM).  Hence the Mg.Committee is bound to effect the transfer within 90 days, without any further reference, to anybody.


Keep Smiling .... Hemant Agarwal 
READ ARTICLES ON: https://hemantagarwal21.blogspot.in/?view=sidebar 

legalmatter   16 June 2015

Thank you hemantji for replying.. One last question...that if the person who has gifted [doner] has not signed on any documents in front of the managing committee nor donor is available in the society nor in mumbai, how to verify that the person has signed herself ?.. If in near future her other relatives turn up that how u have transferrred the flat without consenting other heirs...the mother in laws other son and daughters..then? Please advice Nitesh jain Mumbai

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     20 June 2015

I presume from your reference to Rs.25000/- that you are in Mumbai or Maharashtra. If a gift is made there should be a gift deed with due stamp duty paid and duly registered with the Registrar of Assurances (not Registrar of Co-operative Societies). The registered gift deed would bear the signature of the donor with also the signatures of the witnesses, in whose presence the donor would have signed. It is the Registrar's responsibility to ensure that the donor's signature is genuine. Once the registered document is produced before the Society, the MC need not look for the presence of the donor before them. If the transferee submits the transfer form which bears the signature of the donor with witnesses, that is enough. Ask for a Xerox copy of the registered gift deed attested by the transferee himself/herself. Have you got any other question?

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     20 June 2015

If others claim ignore them. They will have to go to court. If court orders the Society, abide by the order of the court. Get an indemnity bond signed by the transferee before registering the transfer in the books of the Society. Indemnity Bond forms are available with the Federation. They can be purchased.

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108)     21 June 2015

1.  It is beyond the "capacity and capability" of a Society to transfer the Flat (property),  simply because under the Transfer of Property Act, the Society does not own any Flat in the building.


2.  The role of the Society is restricted and limited to "Transfer of Membership"  AND NOT "Transfer of Flat (property)".


3.  It is beyond the "capacity and capability" of a Society to demand any such "indemnity bond", at least lawfully  AND neither does it serve any purpose, to exception of "hallucination".  Membership Transfer Forms maybe submitted to the Society even after death of the original member/s.  Hence it is not at all necessary for the seller-member .OR. the purchaser-member to appear before the Society MC for ANY type of verification /interview /or whatever.


4.  The Registrar of Assurances, is the SOLE & FINAL constitutional authority, while registering the "Gift Deed".  NOBODY has any legal jurisdiction to challenge this authority, which includes the so called "society" and the so called "legal heirs"  .OR. whosoever.


Keep Smiling .... Hemant Agarwal 
READ ARTICLES ON: https://hemantagarwal21.blogspot.in/?view=sidebar 

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     22 June 2015

Notwithstanding whatever the Learned Advocate Agarwal says,  if the Society is dragged to court, the Society will have to incur expenditure on courts and lawyers. Hence wisdom demands that the Society asks the new member to indemnify the Society against such eventualities.The Model byelaws stipulate such an indemnity. Memberships of Societies are not optional. Flat-owners get services through the Society and they cannot opt out of membership. Also the Society has a lien on the flat for the member's dues to the Society. Municipality bills the Society for taxes and not individual members.

Wilkie Correia   11 January 2023

can you please advise what particulars/ details have to be written on the reverse of the share certificate while entering the Donee's name under column titled  -Regn.No. Of Transferor, and -Regn. No.of Transferee.

In this case A  and B joint owners have vide gift deed transfered 25 % share of their each respective shares to their daughter  C, who becomes 50% co-owner of the Flat in a coop housing Society in Mumbai, Maharashtra, efffective from date of Gift Deed.Also what are the fees payable towards entry fee and/or membership fee for this.Thus A and B will continue to hold 25 % each, Viz. balance 50 %.Shall be thankful for advice /clarification


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