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Varun Kumar   14 June 2021

Share Certificate

Hello Reapected Sir,

i have purchased a new flat in 2018. But now due to some reason i want to sell that flat but corresponding Share Certificate still i have not received. So in this situation can i initiate to sell my flat.

Thanks and regards,
Varun


Learning

 12 Replies

SIVARAMAPRASAD KAPPAGANTU (Retired Manager)     14 June 2021

It's three years since you purchased the Flat and still Share Certificate not issued?  Clarify whether you are holding a Registered Sale Deed or Agreement to Sale in your favor.

Sankaranarayanan (Advocate)     14 June 2021

State the facts clearly. why still you are not been provided share certificate?

Varun Kumar   14 June 2021

still in society no one has got the share certificate.

Sankaranarayanan (Advocate)     14 June 2021

Any correspondence made with authorities? Why, no action been taken collectively by all members? At least now collectively consult a lawyer and seeking advice and  act according  

Varun Kumar   14 June 2021

If i have not still received the share certificate then in this situation can i not sale my flat.? But i have Sale Deed / sale agreement.

Sankaranarayanan (Advocate)     14 June 2021

First all  have to send legal notice to society for issuing share certificate, if then also they failed to provide you share certificate you can file a complaint to sub registrar of society registration in your jurisdiction.

Varun Kumar   14 June 2021

Dear Sir.... i just wanted to know that without share certificate, can i sale my flat ??

Sankaranarayanan (Advocate)     14 June 2021

You can with the support of sale deed subject acceptance of buyer . You disclosed the facts? 

P. Venu (Advocate)     14 June 2021

In my understanding, non-issue of share certificate need not inhibit your right to sell your property.

Varun Kumar   14 June 2021

Thank you very much sir for your valuable inputs.

T. Kalaiselvan, Advocate (Advocate)     14 June 2021

Have you been included as a member of the association, if so, on receipt of the maintenance amount and the corpus funds from you, the association should have issued the share certificate.

Thus you clarify this because you need to obtain NOC from the society for selling the property, without which you may not be permitted to transfer the property to the prospective buyer by a sale deed. 

Dr J C Vashista (Advocate)     15 June 2021

Sale / purchase of property is a Society (Cooperative Society or Association of flat ) is concerned with "outstanding" against the flat, where the Society withholds NOC for occupation of purchaser.

Otherwise, if you are not a member of the Society it is least concerned with transfer of title (ownership).


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