Praveen (Engineer) 27 May 2013

Transfer of share certificate

Hi,

I have a flat in pune, i have transfered it to my mother and sister through a Gift Deed agreement.

I have written an application to society to provide me with NOC which is to be given to Corporation for

transfer of name. I have also asked for transfer of Share Certificate on the transferee,s name, but now the

society ask for transfer fee of 50,000. But i have heard that in transfer of property in blood relation one need

not pay any such fees. The society chairman does,nt want to do it. What can i do from my end? Society says

that the society has decided long before in a meeting that such an amount should be taken from any kind of

transfer as they have to raise funds for the society. They say that society has authority to make such laws?

Please Advice?

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8 Replies

Hemang (Advocate) 27 May 2013

It amounts to transfer. You have to pay the trasnfer fees. There is no escape.

Praveen (Engineer) 27 May 2013

@Hemang

But Sir as per the "Bye Laws of Cooperative Housing Society" there is a special mention that if the transfer is in family ie in blood relation, one has to only pay a transfer fee of Rs500, enterance fee of Rs 100 AND there is no need to pay "payment of amount of premium at the rate to the fixed by the general body meeting"

This is mentioned in 38 e of the Bye Laws with a special mention of a Note saying that in blood relation you need not pay.

Now the question is should the society follow this bye laws or the society can frame any laws of there own.

I think the society has to work as per some guide lines from somewhere when they frame laws.

"Even when the parliment makes laws they have to be in accordance with the basic structure of the Constitution."

Then when society frames laws what should they follow. Should they not follow some basic structure.

I am not sure whether they are binding to work as per the bye laws, but then i think the as my society is a cooperative housing society, they should be following the Bye Laws of Cooperative Society especially made for this purpose.

Please Advice?

Adv k . mahesh (advocate) 27 May 2013

ask them when they had passed and without the members knowledge it cannot be passed

so consult the other members of the society and with all members concern the bye laws passed then you have to pay it for the existence of the soceity and can negotiate the amount

Praveen (Engineer) 27 May 2013

@k.mahesh

On the net i have found the bye laws of cooperative housing society, and i think each society has to follow these bye laws made by maharashtra government.

There is a clear mention there as to how much the society should charge and where in they should not. As per my idea my society with the consent of all members has deceided to take 25 thousand if any body sells the flat as transfer fees.

But as per the maharashtra govt cooperative housing society bylaws in blood relation it is only restricted to Rs 500 + Rs 100 ...

My question is any society formed has to work as per the byelaws framed by the govt.

or they can charge any amount deceided in the meeting between members.

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 ) 27 May 2013

The payment of premium is not applicable in case the flat has been transferred to a member of his family or it is inherited by an heir.

Praveen (Engineer) 27 May 2013

@Rama

But under the name of transfer fee which is given as Rs 500 in the bye laws of maharashtra cooperative housing society act can the society ask for more even when it is in blood relation.