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Rahul Phalle   30 August 2021

Section 29 (2) (a) of the maharashtra co-operative societies act, 1960

Mother has gifted residential flat to her son in June 2021 by registered gift deed, and society has transferred share certificate to son's name in July 2021.

Questions:- (1) Can Son sell the said flat immediately or he has to wait for one year from shares transfer by Society.

(2) If he sell the flat to another person, can society transfer his shares to new member after all paper work done ? (Less than 1 year from previous shares transfer)
because as per Section 29 (2) (a) of the Maharashtra Co-operative Societies Act, 1960, Society can not transfer shares two times in a year.

3) Does this law effect in this case ? Society is not allowing to sell the said flat. Asking to wait for one year.


Learning

 1 Replies

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108)     30 August 2021

Waiting Time to Transfer Membership is specifically now not applicable for Coop. Housing Societies. This condition is removed. Keep Smiling .... Hemant Agarwal for CHS Articles /Applications /Videos, VISIT: www.chshelpforum.com
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