Vimal C Shah 22 February 2020

Indemnity bond for nomination - residential flat

When more than one nominee is appointed in residential flat in housing society , indemnity Bond is to be submitted to society .Is this required to be submitted along with nomination form or at time when flat owners are no more .Request to help on this point Vimal

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This discussion clarifies the requirement of an indemnity bond when multiple nominees are appointed for a residential flat in a housing society. The consensus is that the indemnity bond is typically required from the nominee only after the original owner's death, and at the time the nominee applies to transfer the flat to themselves.

2 Replies

Adv Haresh Raichura (Advocate on Record) 22 February 2020

I think question of giving Indemnity Bond arises only when Owner/ main allottee is no more and when some nominee applies for transferring flat to him.