[Resolved]  Co-Operative Housing Society — Non issuance of Share Certificates

I purchased flat in 2005, through Bank loan . At that time i got NOC from society signed by one of the three member of the administrative board. Even as the bank had no issue about that, yet the society under the new managing committee refused to take cognizance of the NOC given by the earlier admn. board ( signed by one member) Further as per the new managing committee there was pending dues to be recovered from the previous owner of the flat . Because of this even though i have share certificate but the society has not transferred by name on the same. Even though right from the day of purchase i have regularly paid the society charges /dues etc . The society wants me to pay the dues on the flat ( which was imposed after 4 years of purchase of the flat) . My issue is that society is not transferring m name on the share certificate . Please advise . [protected]@gmail.com

The Gujarat High Court held that the instrument of transfer of shares confers title on the purchaser in respect of the transferor’s premises but that does not require registration. Now if it is a transfer by way of sale of an immovable property or any interest therein worth more than Rs.100/- such a document would require registration under section 54 of the Transfer of Property Act, 1882 irrespective of section 42 of the Gujarat Co-Operative Societies Act or section 17(1) of the Registration ACT and if it is a transfer of an immovable property why should it not attract advalorem stamp duty under the Bombay Stamp Act which is also in force in the Gujarat State?
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(a) Apropos the transfer of shares, it is submitted that neither the Cooperative Societies Act nor the rules prescribe any form of transfer of shares. The model Bye-Laws provide that an application for transfer shall be in the form set out in schedule II appended to the bye-laws. However the form in schedule is not an application but a deed of transfer of share itself. The main portion of the newly prescribed form is “ I do hereby transfer to ... the fully paid up shares... and my following interest in the immovable property of the Society viz. Flat No... etc The form not only amounts to transfer of shares but to a transfer of an interest in the immovable property” It is submitted that the Registrar has no jurisdiction to prescribe such a form and it goes beyond the provision of the ACT and the rules for the simple reason that the document being transfer of an interest in immovable property would amount to a deed of sale or transfer of property ... and the Registrar has not to prescribe such a form of conveyance or transfer of immovable property.

My Dad expired in the month of august 2010, he has nominated my mother in the nomination form. The Secretary of my Society is insisting that we the children give a NO OBJECTION certificate to transfer the share certificate to my Mother's name. It this necessary? Please advice. How do I make the society transfer the share certificate to my Mother's name.

My Share Certificate is with a Bank who financed Housing Loan. Secretary wants the Share Certificate alongwith Transfer Papers to complete the transfer formalities, whereas, Bank wants some proof that the share has been transferred or allotted to me by the Society before handing over the Share Certificate to me for endorsement thereon. What to do?

I have purchased a flat in co-operative society with by taking a loan from my office.

All the formalities for the said deal have been completed. Now, after the
transfer of names (mine is resale flat) the society insists that the duly transferred share certificate will not be given to me but somebody should
come from the office and collect the same or else the office has to issue
an authority letter to me for collecting the duly transferred share certificate.

The society refuses to hand over the certificate and office refuses to give me a authority letter to collect the share certificate nor send somebody to
collect the share certificate from Hsg. Society.

Sending by post or courier is risky.

Kindly let me know what is the solution to the problem.

Co-operative housing society — opening of accounts with The mumbai District Co-operative Bank

Is it mandatory for Cooperative housing societys to maintain accounts with coopearative banks? Our society is located in Mumbai.

I am residing in my current residence since 1985 with my father, wife and children.my father had given an application to the society regarding transfer of flat in my name. and the maintenance receipt was also transferred in my name in 1995, but I was not aware about the share certificate. My father expired in 2002, now when I found that the share certificate still reflects my fathers name I wrote an application to the society for the transfer of share certificate but they are denying for the same since a year or so and later they asked me for NOC from my brother and sisters even after I have produced my father's WILL which clearly states that the flat is transferred on my name. could u help with this issue.

Hello,
I have not got the share certificate transferred in my name. I have got the Will of my father probated from High Court, a copy being already submitted to the Registrar but no action has been taken. Please guide me what has to be done next.
Regards,
Rekha

I purchased a flat from the builder paid stamp duty and registration charges in 1994.We do not have the original agreement but a copy of the agreement.We also have original copy of stamp duty paid and registration.We are the members of society since 19 yrs and we have been paying the maintenance charges since then.We are NRIs every year we stay for about 2 months in the flat.Now we are planning to come back and settle in Mumbai, however the society is refusing to give us the share certificate for the following reason
1.We do not have the original agreement copy.
2.Original stamp duty receipt and registration is not valid according to the society.
Kindly answer the following queries
1.Can the society refuse to give share certificate.
2.How can I force them to give the certificate without involving the registrars office.
Regards
suresh Nakra
[protected]

my mother in law had nominated my husband & me as the nominee after her death ..we gave the required documents as per the society .plus his other two sisters are not in contact ..so we even gave an add in two news papers on society request ..even after all these formalities the secretory is not transfering the name in the first nominee an has asked us to get either the administrator or succession certificate from the high court..can you please advice what should i do.

hi all, , , I have purchased a resale flat on Aug-2013, society has issued the share certificate on July 2006, but my owner has not collected his share certificate.
I have submitted all my papers, and paid the transfer, and membership charges to the society, now they are denying me to give the share certificate, saying that sailor (Ex.Owner) need to come down to collect it.

I made an argument"since I am a bonafide member of the society so I am having all rights to collect the share certificate and as per the society documents and the agreement he has transferred his shares to me"

now my question is can i approach society legally or not or what I need to do to overcome from this situation?

Hi we r the first owner of flat in Navi Mumbai new building and society is formed and registered
however when forming society they are not included our name in the annexer V & C ( flat owner name left blank out of 44 flat 6 flat name is not their
I question is can we get share certificate with this ?
secretary says we are society member can you help us in this regards

we are not a member pleas help us

Sir,
I am staying in a CHS. Our flat is in the name of my husband and my father in law. We are the second owners of the flat. We took a loan from ICICI bank and the first owner of the flat had the loan form ICICI only. At that time, we completed all the paper work and the papers of the flat were mortgaged with the bank. Now, we want to sell our flat since it is 1bhk and we want to buy 2 bhk and we have come to know that the share certificate of the flat are still in the name of the first owner and have not been transferred in our name. We have been paying EMIs for more than 5 years now and the bank is denying the transfer of share certificate in our name stating that we have to get a letter from the society. The society has also denied issuance of the letter and now we are left with no where to go. Please advise as to what can be done to rectify that since we have been staying in the society for more than 5 years. Please please please advise.

Dear Sir/Madam,

I purchased a flat on re-sale in July 2011 after obtaining Builder NOC (as the society formation was still under process) and bank has also transferred the mortgage from seller to me after all verification.
Later, after the society was formed, in the month of December 2011, Secretary of the society has also issued me NOC to transfer the owner of property in the municipal corporation records, which has been done successfully.
Now, Society is NOT issuing me share certificate stating the reason that there is some maintenance amount due with the previous owner before my purchase of the flat.
Please advice if society has rights can deny me share certificate in this situation? And also kindly advice for next steps I can take.

Kind Regards,
Ashutosh, Pune

IN OUR CO-OP SOCIETY ONE MEMBER HAS PURCHASED AN FLAT 8 YEARS AGO IN RESALE & GOT TRANSFERRED SHARE CERTIFICATE IN HIS NAME.He lost that share certificate few days ago . Now suggest us whether we should issue DUPLICATE SHARE certificate in his name directly or whether to create duplicate share certificate in name of original buyer & then transfer to his name.

I am buying a resale flat in pune taking Loan from LIC HFL . All i wanted is NOC from society but the society have not issued shares certificate to the 1st owner so can anyone share the NOC format? As the chairman is not aware of this legal things. please HELP. Thanks

my share certificate is lost all documents submit to society but not issue share certificate pls inform what amount paid by society new certificate issue

my share certificate for bank because bank is murge in other bank that time my certificate is lost
bank issue a letter for lost a certificate & advertise on paper lost certificate all document submit to society FIR copy, bank letter advertisement copy but society not issue certificate they demand extra amount for issue a certificate pls provide us maximum and minimum amount paid to issue a share certificate which act

I have purchased resale flat. But society has not issued share certificate to any member of society.Shall I proceed for registration of flat without share certificate what documents I have to take from owner if society made it on the name 1st owner or it can be made directly on buyers name?