Bharat Gosar 09 September 2024

Procedure for name change on society name plat board

i have purchased one flat on combine me , my daughter and my wife`s name. loan taken on my daughters name so first name is my daughter name . now builder is giving possession and mentioning i st owners name on society name plat.but my daughter wants first name as my wife or on my name. As she will marry shortly , she doesn`t want any conflict regarding this flat with her futur husband. can we only change society name plat on my self or my wife name. daughter has no objection with this. we want keep all the thing as per agreement for loan purpose but want only change in society entrance name plate so that we can avoid some future conflict. please guid me .

thanking you

Bharat Gosar

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2 Replies

T. Kalaiselvan, Advocate (Advocate) 09 September 2024

Yes, you can very well keep either your name or your wife's name on the society name plate or display board provided you and your wife are joint owners along with your daughter.

You can inform the builder about this decision and request him to do the needful.

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer) 10 September 2024

A loan can be taken in anyone's name. But the bank will ask all the joint owners to sign the loan agreement. In joint ownership all the joint owners will be jointly and severally responsible to repay the loan. Notwithstanding under whose name the loan is taken, normally the name of the person whose name stands first in the conveyance agreement and in the share certificate if eventually a co-operative society is formed, will be displayed in the name plate. Sometimes none of the owners but a tenant may be residing in the flat. Law does not say anything in this regard, The builder or the office-bearer of the society may use his discretion. The purpose of a name plate at the entrance is for a visitor to know in which flat his host is staying.