What is Share Certificate of flat?

What is Share Certificate of flat?

A share certificate is a legal certification given by a housing society that a certain member is the registered owner of shares in the cooperative housing society. The member is issued 10 shares (worth Rs 500) as the total share capital need not be the same as the actual number of shares issued.

Can a joint owner in a flat be a nominee?

Therefore, it is highly advisable to make a nomination in case of joint ownership of a flat. In case of a simultaneous death of both the joint owners, the flat is rendered intestate. The due process of law has to be followed to transmit such a flat in the name of the legatee.

Can associate member become owner?

The person ceases to be an Associate Member of the Society when the original member ceases to be a member of the society. It is doubtful whether a joint owner i.e. Associate Member automatically becomes thefirst owner after the death of the original first member or the property is transferred to the nominee.

Can I sell my flat without share certificate?

You have to furnish the registered sale deed. Another important document is original share certificate, showcasing that the shares issued for flat/house are in the name of seller and he/she is member of the society.

How important is share certificate?

The managing committee of a housing society has the responsibility to issue share certificates. Just like the sale deed is an important document that the rightful owner of a property has in their possession, a share certificate is a proof that a rightful owner of the cooperative housing society’s shares, must possess.

Can nominee sell the flat?

As a nominee, they holds the flat in trust for the legal heirs of the deceased and they will be bound to transfer the flat in the name of such legal heirs and will not be legally entitled to sell/transfer the flat to any third party without the daughter’s consent.

How can I transfer ownership of a flat?

5 Ways to Transfer Property in India

1. Sale Deed. The most common way of property transfer is through a sale deed.
2. Gift Deed. Another popular way of transferring property ownership is by ‘gifting’ the property using a gift deed.
3. Relinquishment Deed.
4. Will.
5. Partition Deed.

Can a person own two flats?

Who can be a joint owner? There is no law that governs who you can add as joint owner. It can be a close relative (spouse, parents, children, brother or sister), your partner in business, or even friends.

How do I remove my name from society share certificate?

Also by same documents you can apply and. take. share certificate from the society….

1. Mere deletion of name of Father, from Society’s membership is possible, via a Application + Death Certificate + Indemnity Bond.
2. HOWEVER, the above will not delete the Title-Ownership rights of the deceased Father.

Can a nominee attend society AGM?

A nominee cannot be allowed to attend the AGM of a housing society. He also cannot be allowed to propose any resolution or vote for any resolution in the society’s AGM..

How to create a football certificate for free?

You can simply download football certificate templates, which will recognize your player’s achievements. With a blank certificate template, you can create a certificate, a player will remember for a very long time what his coach had to say about him.

When to apply for a housing society share certificate?

In the event of the death of the original member, the heirs have to apply within 6 months of the death for the share transfer to the nominee along with the issuance of a new share certificate. Readymade share certificate booklets are available online, housing federation offices or at book printing agencies.

Can a share certificate be transferred to a new member?

If the share certificate is being transferred to a new member after resale, they have to finished all paperwork prior to handing the share certificate, including the required transfer of shares procedures.

What does a football certificate mean to a coach?

When personally awarded by the coaching staff, football award certificates can mean a lot. Coaches need to take the time to say, “Thanks,” and these certificates provide a very effective tool.