tejinder sethi 10 January 2025

One property agreement will have how many share certificate

One member in our cooperative housing society is have house consisting of ground plus two floors and has single agreement for the entire property.

Now he has approached society office to allot 3 share certificates for ground plus two floors.

With one agreement, is it possible to allot 3 share certificates.

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Quick Summary

A member of a cooperative housing society owns a property with multiple floors under a single agreement and wishes to obtain three separate share certificates, one for each floor. The society is questioning whether this is permissible. Generally, if the property was purchased as a single unit, the society may refuse to issue multiple certificates. However, if the original agreement explicitly detailed three distinct properties, then it might be possible.