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Manoj (CEO)     05 May 2012

Share certificate of society flat

Dear Expert,

I need your valuatble advise on matter related to purchase of a society flat. I am buying a coperative housing society flat in Delhi. Flat is free hold in the name of original allottee. following doc are available:

1. Prepetiual Lease deed

2. Allottment letter

3. Possession letter

4. Freehod doc

5. All chains of purchase and sale,

the only doc missing is sahre certificate issued by society of which just photocopy is available. the seller has no idea about the share certificate as per him he didn't get it from previous seller. Also society is not ready to issue duplicate share certificate. My query is:

1. is share certificate imporatnt in case of freehold property?

2. What safeguard I can addopt while purchasing this propoerty?

3. can there be any misuse of share certificate by any previuos seller?

 

Please advise. would be very helpful.

Regards,

Manoj

 



 1 Replies

Malini Satheese (Student)     06 May 2012

 

Hi

Share certificate is an important doucment and is the document of title. As the original is lost and not traceable, it is advisable to release a public notice calling for objection if any, stating that you are intending to purchase the said flat and also say that the original share certificate is lost and not traceable, ,

Uma


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