Share certificate

Rajesh Kalyani (Querist) 17 January 2012 This query is : Resolved
I am holding the Share Certificate of a co-operative housing society ltd building but the said building is not legal as per municipal limits and the conveyance deed of the land on which the building is constructed is not in the name of the Society. it is still in the name of the Builder.

Therefore, I would like to know whether the share certificate which I am holding for my flat is valid for the property.

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Raj Kumar Makkad (Expert) 17 January 2012
The builder generally get the ownership transferred in the name of societies and you hold its share so it is purely valid.

So far as the violations of municipality are concerned, those can be got either rectified or the penalty may be deposited as per rules.

Rajeev Kumar (Expert) 17 January 2012
Agree with Makkad

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