Rights or significance of joint holder of flat in mumbai
Dipen Kanabar
(Querist) 27 May 2013
This query is : Resolved
What is the significance or right of some one whose name is joint-2nd in the flat agreement, but does not appear on the society's share certificate? On death of the person whose name is first on the flat agreement and only name on society share certificate, does the 2nd person automatically get complete ownership of the flat and membership in the society?
Kishor Mehta
(Expert) 28 May 2013
Sir,
[1] It is mandatory for the society to prepare a share certificate in the names as are on the registered documents. Hence if there are two names on the registered documents the society has erred in preparing a share certificate in a single name only.
[2] If specific shares are not mentioned in the document then equal shares are presumed.
[3] In the event of death of one of the owners, the second party does not automatically become the sole owner. The heirs of the deceased party become the owners of his share.
Good Luck
Kishor Mehta
