Property Law
abdulla
(Querist) 04 June 2010
This query is : Open
FACTS
Mr. A owns a 10,000 sq ft. plot. on this plot he constructs a building on a portion of the plot measuring 3000 sq ft. After certain years he leases the vacant portion of the plot (7000 sq ft.) to a builder to develop the same.
The builder constructs a building and sells the flats. The flat owners form a Co-Operative Housing Society under Maharshtra Co-Op Soc. Act 1960. How ever the land on which building is constructed by the builder is neither subdivided from the original plot nor is the land conveyed to the society. After about 30 years of the construction of the building by the builder Mr. B buys the land rights of all 10,000 sq ft. from Mr. A’s heirs and gets his name registered on the property card.
PLAN
Now Mr.B wants to buy all the flats in the registered co-op society and demolish all the structures and construct a single new building on that plot.
HOW BEST TO EXECUTE THE PLAN
How should he buy the flats? What will happen once the no. of members of the society falls below the stipulated mandatory number of 10? We should decide in view of the fact that the society does not have the conveyance of the plot. Can the society be dissolved? Can Mr.B buy flats in the society and the society can still exist with less than 10 members?
