share transfer chs
4 months ago
My society secretary is refusing to meet me regarding share transfer. Even though there are no pending mainteanance bill and my bro society has processed his flat share transfer, my society is adamant to produce sucession certificate as recommended by lawyer common to both soceityies.
what is the remedial action.
A.Dear Client ,
Lodge a complaint with the registrar of societies for the illegal and arbitrary act of the Society Secretary and let him reply to the Registrar when he will be summoned.
Lodge a complaint with the registrar of societies for the illegal and arbitrary act of the Society Secretary and let him reply to the Registrar when he will be summoned.
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A.Dear Client,
The Cooperative Society Act varies from state to state. Once a family member is nominated by the Owner member of the Society, the society has no option but to transfer the shares in the name of the nominee, after the death of the member. A nominee having both the nomination and legal heir certificate is entitled to ownership of the property left by a deceased member, and the Society is legally bound to transfer the title/ownership of the flat on the basis of nomination and a legal heir certificate pursuant to the provision of Byelaws of the Society. In the absence of a nomination supposed to be made by your brother in your name, the society asked you to submit a succession certificate for the transfer of name in the share certificate or ownership of the flat of your brother. Reach out to an Advocate for guidance and steps.
The Cooperative Society Act varies from state to state. Once a family member is nominated by the Owner member of the Society, the society has no option but to transfer the shares in the name of the nominee, after the death of the member. A nominee having both the nomination and legal heir certificate is entitled to ownership of the property left by a deceased member, and the Society is legally bound to transfer the title/ownership of the flat on the basis of nomination and a legal heir certificate pursuant to the provision of Byelaws of the Society. In the absence of a nomination supposed to be made by your brother in your name, the society asked you to submit a succession certificate for the transfer of name in the share certificate or ownership of the flat of your brother. Reach out to an Advocate for guidance and steps.
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