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gitesh shah (Chairman)     02 October 2012

Transfer of shares in society in case of death of 2nd holder



In our society a flat is owned by father and son. Where son is the 1st holder and father the 2nd holder. Society shares are also on joint name of Son + Father. On society's member list, son's name is there as he is the 1st owner. They have been staying in this flat for past 20 years. Other son and daughter are living separately.

Father passed away recently without leaving a nomination or will.

Now son wants to remove the father's name from the shares so that he will be the only owner of the flat.

Other legal heirs, his brother and sister have given a consent letter for the same on a Rs.100 stamp paper duly notarized.

Kindly advice, if it will be alright for the society to transfer the shares to son's name?




 5 Replies

S. K. Vaidya (Employee)     03 October 2012

As far as father's share is concerned it will be governed by sucession act . However for absolute membership to son their will be no problem for deleting the name of father if consent is given by other heirs to delete the name of deceased and retained the name of said son if no nomination is made.However all the other heirs will have equal share so far as father share is concerned in said flat and other 50% undivided share will belong to son who purchased flat along with father while dispossing the flat.

gitesh shah (Chairman)     03 October 2012

An additional questions here, it is not mentioned in the society that share is 50% between the two members. So is it assume to be the default value?

Also in this particular case, all the legal heirs have given a consent, so we can transfer the shares wholly to son? Son will then get the 100% share?


Regards and thank you.

Chandrasen Upadhyay (Legal )     03 October 2012

It is assumed the father has died intestate (without will) then a Succession Certificate from the court is required to be procured by claiming son which may take years or so. But it shall be a complete legal process. 

However, considering harmonic approach, if it is believed (after coducting proper due diligence) that all other interest holders in the share of father have waived their rights/ interest in the flat then a public notice (for safer side) can be published in daily news papers (one english and another local) inviting claim from interest holders if any further. And if no claim is received within stipulated time the same could be transferred under prescribed manner of society byelaws.

Will suggest you to check concenred state (where property situates) Stamp Duty Act to find out exact duty which will be applicable on Deed of Release / Consent Letter.  

gitesh shah (Chairman)     03 October 2012

Thank you for the response.

Yes, father has died without leaving a will. There is also not nomination with the society.

I thought since father was 2nd holder, 1st holder gets the full share automatically. Is it necessary to do the advertizement?

The property is situated in greater Mumbai - state of Maharashtra.


Chandrasen Upadhyay (Legal )     03 October 2012

Sec.30 (1) of Mah Co-Op Soc Act clearly states about provision of transfer in case of non-nomination. The Committee of society has got right to do it after satisfying itself and as it may deem fit, hence in this case giving a public notice and receiving consent letter from all other legal heirs would suffice. No automatic transfer will go.


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