Shaan (Analyst) 26 March 2014

Need guidance in buying a flat in a co operative society

Hello,

I'm going to make a sale agreement to buy a flat (from a direct owner ) in a co-operative society . This society is registered under West Bengal cooperative society act 1983. The flat is in say Mr X's name. The flat was registered against Mr X and mutation certificate shows Mr X as the only owner of the flat. But in October 2013, Mr X added his son Mr Y in the society. Society's share certificate shows both Mr X and Mr Y as members of the society.

I'm the purchaser of the flat. I've got 2 questions:

Question 1 : In this case who should sign the sale agreement as Vendor ?

a. Only Mr X - Since he has the flat in his name, his son only a member of the society OR

b. Both Mr X and Mr. Y

Question 2: Flat price is 40 Lacs. Will an agreement made on Rs 10 Stamp paper be admissible to Court as evidence?

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3 Replies

Advocate Ravinder (Advocate/Attorney) 26 March 2014

To my expectation Mr. X had gifted 50% share of his property to Y. But unless Y becomes a society member the gift will be invalid, as such Y also has to become member of the society. Hence, Both X and Y should sign on your sale deed. The sale deed had to be typed on Rs.100/- non judicial stamp and to be registered in the sub registrar office.

Advocate Ravinder (Advocate/Attorney) 26 March 2014

T. Kalaiselvan, Advocate (Advocate) 27 March 2014

You must produce all papers related to the property before a lawyer who is conversant with the property law, take his opinion about the title and other details, proceed as per his advise. Unregistered sale agreement on a rs. 10/- NJS is not valid.