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Dsilva   29 February 2016

Transfer of share certificates of house property

Dear Sir / Madam,

My Husband and i bought a flat jointy in 2009, so we both were equal owners of the flat in Mira Road. Now in Sep2015, due to a dispute i have purchased his share of the flat by registering the agreement and paying stamp duty.

However the society is demanding Rs.25,000/- as transfer fees to transfer the share certficate in my name solely Since i was a co-owner of the flat already and i have made no profit on the flat, why are they charging me? Can one of you please confirm this urgently. i ahve been circling the society office for 6 months. My husband has given the tranfer set and resigned from the society as well.

Thank you.



 1 Replies

Suneet Gupta (www.vashiadvocates.com)     01 March 2016

The Society cannot ask for Transfer charges from existing members. Since you are already an existing member, the Society cannot charge you the Transfer fees of Rs.25,000/-. Please quote the Note to Model Bye Law No. 38 (e) - 'Note: The condition at Sr. No. (ix) above shall not apply to transfers of shares and interest, of the transferor in the capital/property of the society to the member of his family or to his nominee or his heir/legal representative after his death and in case of mutual exchange of flats amongst the members.'


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