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(Guest)

Society share certificate

I had bought a resale flat some month ago. However, the first buyer has not registered the flat whereas stamp duty has been paid. I have paid my stamp duty as well as registration but the society refuses to give me the share certificate. I have NOC and transfer receipt from society and regustered agreement on my name. Please advise. --


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 20 Replies

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     20 November 2019

NOC and no dues certificate are needed from previous buyer and police verification certificates are needed for getting share certificate.


(Guest)
Yes we have NOC from society and all dues are clear of society nothing is pending and also we paid transfer charges to society 25,000/= and we have receipt on my name but then also they refused to give share certificate reason they giving is first party agreement was not registered.. What type of police verification is required please?

(Guest)
Thank you, mr.rama chary for the response

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     20 November 2019

In which State are you?  What kind of Society is it?  Is it a co-operative housing society?

Kishor Mehta (CEO)     20 November 2019

If you have paid the stamp duty and have a duly registered document in your name, and if the share certificate was issued to the previous owner, the society has to transfer it to your name it has no business to raise any questions about the registration of previous chain documents. You may submit a complaint to the Dy. Registrar of CHS of your zone.

(Guest)
Thanks for response..mps ramani. I am from maharshtra mumbai thane city.. Yes its a co op hsg soc ltd

(Guest)
Thanks for respomse.mr.mehta Yes my agreement has fully registered on my name even i have the NOC of society. I piad society transfer charges as well. Previous owner was doesn't have share certificate because he didn't registered his agreement only collector stamp duty he paid but i did all step and my agreement has fully registered in manner.. Now society secretary saying i can't give share certificate reason previous owner agreement wasn't registered but what about my new i have registered agreemnt and i paid transfer cahrges to society?? Pls advice

Kishor Mehta (CEO)     20 November 2019

It is the legal obligation of the previous owner to handover the share certificate to you to complete the deal. Your option is to take the previous owner to court to submit the share certificate to complete the deal and to make the society a party. Alternatively you can ask the previous owner to get the original sale documents registered.

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     20 November 2019

What do you mean by Society not giving you the share certificate?  You should have got the share certificate from the transferor and you should submit it along with other documents to the Society to get your name endorsed at the back of the same.How did the share certificate get into the hands of the Society?  Byelaw No.38 of the new Model Byelaws gives the procedure for transfer of interest in Capital and Property of the Society by a member. If you have followed that,  the Society has to transfer the flat and shares to your name. No police verification or any such thing is required. I was Secretary of a Society in Mumbai for 20 years. I know all the procedures and requirements for transfer

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     20 November 2019

In whose name is the share certificate now? Is it in the name of the tranferor?  If so how did the Society admit him as member when he was not holding a registered conveyance? The Society should have raised these questions at the time of admitting the previous member who sold the flat to you.

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     21 November 2019

Your case is slightly complicated now. You are saying that the previuos owner paid stamp duty but did not register it. It may be that he may not have paid adequate stamp duty and that was the reason that he did not register it.  Has he handed over to you his conveyance deed? You can find out from the registrar's office what was the ready reckoner value of the flat on the date of purchase of the previous owner and whether it matches with the value mentioned in the document and the corresponding stamp duty?   From whom did he purchase the flat?  Was it from the builder or from previous owner? If from previous owner is there the conveyance deed under which the previous owner purchased?  If the seller has handed over to you (he should have) his purchase deed,  you can take it to the registration office and try to get it registered. You will have to make up for the inadequate stamp duty paid and also pay a heavy penalty. Actually your seller is liable to pay because it was his fault. But the registrar "may' accept if you offer to pay. Alternatively you can ask the seller to pay.

The Society was right in not handing over the share certificate to your seller. Now the seller has taken you for a ride. If you file a suit now against the seller for the share certificate, it will be a long drawn process. Instead you pay the stamp duty and penalty and get the share certificate from the Society . You file a suit against the seller to recover the amount which  you paid. You take the Society into confidence before doing all these, so that they do not give you further problem.


(Guest)
Thanks for advice..mr.ramani, Yes, previous owner paid collector stamp duty under the amnesty scheme but agreement wasn't register by registrar deptt. (Previous owner told me after paying collector stamp duty in under amnesty scheme its not necessary to do register agreement so previous owner didn't register the agreement).

Kishor Mehta (CEO)     21 November 2019

All sale documents of landed properties HAVE to be mandatorily registered.

(Guest)
Thanks mr.kishor, Then please let me know how the registrar deptt has register my new agreement when the previous owner agreement was not register only the stamp duty has paid ??? and now i am the fully legal owner of flat i have register agreement i paid stamp duty now how can be society refused for to give me share certificate?

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