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Avijat Dash   29 September 2021

Share certificate transfer b/w family members to third party

Respected Sir/Madam,

 

I am a resident of Mumbai and currently own a flat in a CHS which has been gifted to me by my father in 2018 for which a gift deed was registered, but due to some unforeseen circumstances we could not do the share certificate transfer till date.

Now we are planning to sell the flat and an MOU has been signed with a prospective buyer (Third party). To facilitate a smooth transition we first applied for the share transfer to be done from my father's name to me, this being a transfer within blood relative no transfer premium was paid. Few weeks post that we also applied for an NOC to be provided to the third party and along with that the share transfer premium of 25,000 and a donation of 50,000 was paid to the society.

Now the society is claiming that they will not provide the NOC to the third party since I the current owner do not have the share certificate in my name.

Could you please help me understand the process and if the society can stop this sale of property just because the share certificate in not in the current owners name. There is no loan on the property. Also can the society agree to the sale and do two transfers (Father to me and me to third party) in a single AGM meet.

 

Regards
Avijat



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