Share transfer coop.g.h.society to nominee
n.k.gupta
(Querist) 04 December 2015
This query is : Resolved
Deceased Member nominate Shri kapil Bhayana minor as nominee in application of membership form and Home loan application Nomination was in his father's name. Now Kapil Bhayana name changed to Ajay Bhayana and father of member died. member does not have family. He was unmarried. Ajay Bhayana filed affidavit for changed of name and death certificate of father of member. Member was elder brother of Father of Ajay Bhayana (earlier name was Kapil Bhayana). Pl guide us. Can society transfer shares of member in the name of Ajay Bhayana on the basis of affidavit or society need succession certificate from Ajay Bhayana.
Kishor Mehta
(Expert) 04 December 2015
Sir,
The Society has to transfer the share certificate as per the name given in the nomination form, the society is not legally authorised to alter the name on the strength of an affidavit from any person.
In any other instance a succession certificate is necessary for the transfer of name.
Good Luck,
Kishor Mehta
Kumar Doab
(Expert) 04 December 2015
The society shall look into its own record for nomination.
Nomination in society is otherwise not a parallel route to succession and all legal heirs have equal share in property of deceased member.
Rajendra K Goyal
(Expert) 05 December 2015
Society should trust its own record and if there is discrepancy in documents, ask for court directives.
