Nominee

Querist : Anonymous (Querist) 28 November 2011 This query is : Resolved
Is it mandatory to mention word "Nominee" while endorsing the share certificate after carrying out all formalities of transfer of a deceased's flat. Flat to be transferred in wife's name as she is the nominee. They have two children - son and a daughter. Do we hve to take NOC from them and/or indemnity bond from the nominee.

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Devajyoti Barman (Expert) 29 November 2011
For most of the co operative society property , it is mandatory.

ajay sethi (Expert) 29 November 2011
no need to mention on reverse that share has been transferred to the nominee .

please note that nominee is only a trustee . the flat is transferred as per nomination on record of the society .

advisable to obtain indemnity bond from the nominee . also request 2 children to give NOC certificate .

Shonee Kapoor (Expert) 29 November 2011
Agreed with Ld. Mr. Sethi.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

M/s. Y-not legal services (Expert) 29 November 2011
well advised by sethi sir., am also agree with him. nominee can not be act as owner of the assets while the legal heirs are there..

Raj Kumar Makkad (Expert) 29 November 2011
NOC from other legal heirs is mandatory to be obtained and be filed in its record by the society as the flat is not being recorded in the name of widow being nominee rather as one of the legal heirs with permission of all other legal heirs to do so.

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