Repeated change in the 1st nomination by a share holder
Dr Mahesh
(Querist) 16 January 2013
This query is : Resolved
1. In a registered cooperative housing society, can a member change its 1st nomination ?
2. If yes, should new Nominee be his family member ?
3. How many times a member is allowed to change its nominee ?
4. What are direct & indirect legal obligations to the society ?
5. Can a change in nomination be beneficial in the transfer of his property without paying transfer charges to society ?
Please guide us so that the society does not fall into any trap.
ajay sethi
(Expert) 16 January 2013
1) yes
2) not necessary
3)as often as he desires . but for subseqnet changes he has pay society nominal charhes
4)soc is required to take nomination on record . it has to be recorded in nomintaion register . if nomination is in favour of family member as it is no trnasfer charges are payable
Raj Kumar Makkad
(Expert) 17 January 2013
Academic query need not to be replied.
