Transfer of share certificate to co-owner


Hi,

I am secretary of housing society in Thane, Maharashtra.

A flat in our society was co-owned by husband and wife duo. Husband passed away few days back.

At the time of purchasing the flat both have nominated their son as Nominnee for the flat through a single nomination form.

As per the society bylaws after death of member only shares owned by him/her can be transferred to nominee and remaining shares stay with co-owner.

The wife has now applied for transferring the share certificate to her name.

Do their son who is the nominee needs to give any affidavit that he does not have any objection to the transfer of share certificate to his mother.

The managing committee is not sure of what should be the complete and accurate procedure to transfer the share certificates.

Please advise.

 
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POWER OF DEFENSE IS IMMENSE

when the son was nominee the shares should be transfered in his name.

 
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In Maharashtra,Nomination indicates the person with whom the society should deal with in administration related issues of the flat.

All legal heirs have share in the property of the deceased.

in this case,there are 2 legal heirs to half-ownership of husband,namely,wife & son.

Son can apply for half-share citing he is nominee, along with an indemnity bond.

Else wife & son can make joint affidavit stating who will get how much share.

 
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