Society property

Querist : Anonymous (Querist) 11 January 2012 This query is : Resolved
We have purchased a property (a hall) We have a registered Society under Society Act, 1860 Delhi NCT. Our query is:

i) in whose name the property will be purchased? In the name of the society or in the name of all the members (governing body and desirous persons)

ii) Who will be authorised signatory in the property document. We have a President, Secretary & Treasurer apart from other office bearers and executive members.

Thanks for expert advice. However, I may clarify that the by laws of the society are silent as to who will sign the property paper. The by law says that the property will be purchased in the name of the society. Does it means that the President, Secretary and Treasurer's signature will suffice. Please elaborate.

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Deepak Nair (Expert) 11 January 2012
I think you have to purchase the same in the name of the society only. Let's see what the experts have to say.

ajay sethi (Expert) 11 January 2012
it has to be in name of society . the authorised signatory will be secretary presiident /treasurer

Devajyoti Barman (Expert) 11 January 2012
1. Society
2. The secretary or the President as the Bye Laws prescribes.

Deepak Nair (Expert) 11 January 2012
Now it is sufficiently advised.

Sailesh Kumar Shah (Expert) 11 January 2012
1. Society
2. As mentioned in bye-laws, if not mentioned then any officer resolution.

Rajeev Kumar (Expert) 11 January 2012
It is sufficently replied by our ld.expers

Raj Kumar Makkad (Expert) 11 January 2012
There is no set pattern for this purpose. Both ways may be adopted means society may also purchase and then may distribute as per share and on the other hand owner can sell the plots to individuals and can make registration accordingly.

prabhakar singh (Expert) 12 January 2012
Yes! truly demonstrated.

Querist : Anonymous (Querist) 12 January 2012
Thanks for expert advice. However, I may clarify that the by laws of the society are silent as to who will sign the property paper. The by law says that the property will be purchased in the name of the society. Does it mean that that signatures of the President, Secretary and Treasurer will suffice. Please elaborate.

Sailesh Kumar Shah (Expert) 12 January 2012
pass resolution in the meeting to authorise any officer bearer to sign papers.

Even signature of President,secretary and treasurer, resolution is required.

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