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Kailash Joshi (accountant)     07 January 2018

Handing over of share certificate to joint owner

Sir/Madam, An flat premises is acquired by my father in Joint name of himself and my mother in year 2000. My father departed his heavenly soul on March, 2002, without nomination. Since 2011 family dispute started, I raised objection for transfer of said flat since 2014 to society.  Society has issued share certificate in 2017, whereby I have alredy raised objection for handing over of Share certificate to Joint Owner considering :(1) Joint Ownership as per agreement is Rebuttable presumption (2) As per Bye-laws Joint Owner is admitted as Associate Member based on consent given by member. (3) Bye law no. 25 states that . No Associate member shall have any rights or  privileges of an  Active  member except as provided under Section 27(2) of the Act. (4) An Associate Member may resign his Membership any time by writing the letter of resignation to the Secretary of the Society, through the Member, with whom he held the shares of the Society jointly (5) The person shall cease to be the member of the society sub point no. (iii) On his death (6)  The person shall cease to be the associate member of the society, when the original member ceases to be the member of the society

Thus, in view of above, can you please guide me, whether handing over of share certificate to joint-owner, inspite of objection is correct.

Thanking in anticipation.

 

 



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