Legal Question in Wills and Trusts in India
if there are 2 nominees in a housing society share certificate, will the share certificate be transfered in the name of first nominee only or in name of both nominees
4 Answers from Attorneys
17.02.2013
Dear Sir / Madam,
(Andheri West, Mumbai, Maharashtra)
Bye Law No. 34 : In the event of death of the member, Nominee/Nominees shall submit the application for membership, within six months from the death of a member. If there is more than one nominee, on the death of a member, shall nominees shall make joint application to the Society and indicate the name of the nominee who should be enrolled as member. The other nominees shall be enrolled as joint associate members, unless the nominees indicate otherwise.
Regards,
FCA Prashant Chavan
Mumbai
(You can also mail me for any further on-line advice at [email protected])
Both Nominees .......Please check Sanjay Kalra and Associates on the internet to know more about our law firm and the legal services we are rendering for our clients from all over the World.
Both Nominees. Albeit the nominees are mere trustees for the benefit of legal heirs.
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