Rahul (Service) 22 December 2022

Nomination in chsl

Dear sir,

My dad expired last year. He had made nomination of his flat in the name of his wife 50% & two children 25% each.

Society transferred flat in his wife name as per Section 30 of Maharashtra Co-operative Societies Act, 1960, and the Bye- laws No. 34 of the Society,

The nomination form itself says that nominee should be given as per Rule 25 of the Maharashtra Co-op. Societies Rules, 1961 and asks to mention % of share.

Same form also states as under

As provided under Section 30 of eh Maharashtra Co-operative Societies Act, 1960, and the Bye- laws No. 34 of the Society, I state that on my death the Shares mentioned above and my interest in eh flat, the details of which are given above, should be transferred to Shri/ Shrimati..................................... the first named nominee, on his/her complying with the provisions of the Bye-laws of the society regarding requirements of admission to membership and on furnishing Indemnity Bond,

In this case what is the use of 3 nominees when above para says that shares should be transferred to first named nominee.

PLEASE GUIDE US.

Regards

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3 Replies

SHIRISH PAWAR, 7738990900 (Advocate) 22 December 2022

Hello,

I did not find any section or rule which states that flat should be transferred to the first nominee only. The society shall transfer the flat in the name of all the nominees after the death of member.

Rahul (Service) 22 December 2022

If you can check society nomination form Point no. 5 which is reproduced above in bold letters

Dr J C Vashista (Advocate) 23 December 2022

Maharashtra Cooperative Societies Act, 1960 stipulates as under:

30. Transfer of interest on death of member.- (1) On the death of a member of a society, the society shall transfer the share or interest of the deceased member to a person or persons nominated in accordance with the rules, or, if no person has been so nominated to such person as may appear to the committee to be the heir or legal representative of the deceased member.

Provided that, such nominee, heir or legal representative, as the case may be, is duly admitted as a member of the society:

Provided further that, nothing in this sub-section or in section 22 shall prevent a minor or a person of unsound mind from acquiring by inheritance or otherwise, any share or interest of a deceased member in a society.

(2) Notwithstanding anything contained in sub-section (1), any such nominee, heir or legal representative, as the case may be, may require the society to pay to him the value of the share or interest of the deceased members, ascertained in accordance with the rules.

(3) A society may pay all other moneys due to the deceased member from the society to such nominee, heir or legal representative, as the case may be.

(4) All transfers and payments duly made by a society in accordance with the provisions of this section shall be valid and effectual against any demand made upon the society by any other person.