Legal Question in Real Estate Law in India

Change in Co-Owner
A&B are brother and sister. C is wife of A. The following relates to matter in front of managing committee of co-op hsg society, Thane
A Flat is in name of A & B jointly, being 1st and 2nd owner respectively. A & B have submitted an agreement that B has received compensation from A and now has no right on property.
Also a resignation letter from B is received from co-membership.
My question is since there is a money transaction involved, can a co-op hsg society delete name of B from share certificate? If yes, deleting name of B and adding name of C in place of B as a co-owner is allowed?
Any transfer fee will be attracted in above change in co-ownership?

Asked on 1/30/08, 7:06 am

0 users found helpful

0 attorneys agreed

Re: Change in Co-Owner

No.you have to get declaratory decree from competent court of law.

Answered on 1/30/08, 11:20 am

Shrichand Nahar S.V.Nahar, Advocate

0 users found helpful

0 attorneys agreed

Re: Change in Co-Owner

If changes are by duly registered document of transfer or gift, then same can be given effect in the records of the Society.

You need to check bye-laws of the Society with regard to transfer fees.

Answered on 1/31/08, 12:13 am

Homi Maratha N.N. Maratha & Co.-Advocates

0 users found helpful

0 attorneys agreed

Re: Change in Co-Owner

Please check the bye-laws of the Society.

Answered on 1/31/08, 8:40 am

Keywords

Match Any Match All

Country

State

Area of Law