Pankaj (XYZ) 25 May 2012
What is the process of transfer of property under Mumbai housing society if:
The owner had 2 sons and has died without will.
On share certificate there is only one nominee with 100% shares in his name.
1. Can the nominee transfer the said property in his name? If yes, what would be the procedure? Will he has to pay stamp duty, VAT etc?
2. Can the second son claim any rights in the said property – as there was no will and only share certificate left by the owner.
Vishal Gehrana (Advocate) 26 May 2012
Well, only few have this knowledge that nominee is the person who collects money on behalf of other legal heirs. So no need to worry as property belongs to you also. You can make an application before the Board of Derectors of the company in this behalf. Else, you can file an application for succession certificate before the appropriate Court and then apply before the company for issuing shares accordingly.
Yours,
Vishal Gehrana, Adv
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