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

3 Answers from Attorneys

Re: Change in Co-Owner

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

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Answered on 1/30/08, 11:20 am
Shrichand Nahar S.V.Nahar, Advocate

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.

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Answered on 1/31/08, 12:13 am
Homi Maratha N.N. Maratha & Co.-Advocates

Re: Change in Co-Owner

Please check the bye-laws of the Society.

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


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