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Ra Ka   19 January 2019

Non transfer of share certificate by Society

Hi All,

My brother & I have jointly bought Mahada house (cluster) on loan in resale.
On agreement my Brother being 1st owner & I being the 2nd owner.
Loan is only taken by me, hence on Mahada Transfer letter my name was mention due to bank requirement. (on mahada transfer letter only one can be added).

But society is not transfering or changing the name on share certificate as they say mahada transfer letter should have 1st owner name.
I have even given them NOC from my brother stating...he is ok to be 2nd owner on share certificate...

They are not changing the name, need guidance...
how to take up the issue..

thanks


 1 Replies

Dr J C Vashista (Advocate)     20 January 2019

Share Certificate shall be issued in the seniority of names mentioned in the Sale Deed/ Agreement to Sell.

However, consult a local prudent lawyer for better appreciation of facts and guidance.


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