Transfer of shares certificate in the name of widow being a joint owner of flat
Hemant Joshi
(Querist) 31 October 2011
This query is : Resolved
Sir,
what is a procedure to transfer share certificates of a flat where a bangali hindu widow, jointly purchased a flat with her husband (her name appearing 2nd in sale agreement) desirous to become a sole member of society and transfer share of husband in her name. The other relevant fact for consideration are- the flat was purchased jointly (from self earned money)in 2008, share certificate in joint name is not yet issued by society, the husband left behind the widow, two minor daughters and mother in law as the only legal heirs.
my queries are-
1. the procedure as requested above?
2. whether the widow is entitled to transfer the share of her husband with the consent of legal heirs
3. what will be the situation if mother in law denies to sign such consent or any other document.
4. whether mother in law can claim share when it is self acquired property of husband and wife.
5. can society insist for Succession certificate or LOA from widow.
ajay sethi
(Expert) 31 October 2011
1)did the husband leave behind a will?
2)if husband died intestae then 50%^share of husband in said flat will be inherited by the legal heirs .
3)in the prsent case the wife , 2 minor children and mother are the legal heirs .
4)if the legal heris give their consent in qriting society can transfer flat in mae of leagl heirs on execution of indemnity bond .
5)if mother in law refuses to give her no objection society wont transfer flat as mother is one of leagl heirs .
6)society can insist on succession certificate
sanjeev murthy desai
(Expert) 31 October 2011
Dear Mr Hemant Joshi.
I agree with above opinion in addition to that minor interest cannot be transfer to herself as natural guardian with out permission from the court. Hence it is advisable to secure her name as joint owner together with her children in the share certificate
prabhakar singh
(Expert) 01 November 2011
I agree with experts and praise the input provided by Mr. sanjeev murthy desai
Hemant Joshi
(Querist) 01 November 2011
to Mr. Ajay Sethi and Sanjeev Murthy tanks for valuable opinion,
to add this- the husband did not made any will or any nomination, further the flat was purchased in 2008 however the society was formed in 2009 and the husband did not even apply for membership at the time of purchasing the flat or after formation of society.
ajay sethi
(Expert) 01 November 2011
if after flat was purchased and society is formed the society issues share certificate in name of members . the society is bound to issue share certifcate in name of flat owners who had purchased flat from builder and are members of the society that was formed .
Hemant Joshi
(Querist) 01 November 2011
thnx once again for your inputs
