Rent of a flat in a chs- can the second named shareholder alone enter into a lease agreement for a f
Krishna Shenoi
(Querist) 27 September 2014
This query is : Resolved
One of our members holds a share certificate no. 027 dated 28th September 1982, which is the date of issue of all share certificates of the original Flat Alottees in our CHSL in Vashi, Navi Mumbai. The CHS was a joint venture of all original members who had leased the plot from CIDCO, erected 2 buildings and allotted flats to each of the original members. Accordinly, flat no B2-3A, was allotted to this member and the share certificate bears his name and the name of his wife, with the name of member appearing first.
Issue: The member is desirous to lease the flat as they have moved to alternative accommodation to suit their family requirements. The member says he has no objection if the flat is leased by his wife the second named shareholder. However as per norms followed in cooperative societies, as the wife’s name appears second on the Share certificate next to that of the member and therefore she is deemed as Associate member.
Query: In the aforesaid situation can the wife second named associate member lease the property independent of the member. Does she have any procedural/legal limitation in doing so? What should be the Society Management Committee’s stand in the matter? Should they insist on the member being a party to the leasing of the flat?
gkrishnashenoi@gmail.co
ajay sethi
(Expert) 27 September 2014
society should insist that both the flat owners give flat on leave and licence to licencee . in the alternative husband can execute power of attorney in her favor so that she can execute the agreement
Rajendra K Goyal
(Expert) 27 September 2014
Either both should execute lease deed or husband should specifically authorize wife to proceed on his behalf also.
Dr J C Vashista
(Expert) 28 September 2014
Either of you can authorise one of you and the authorised person can lease it out.
Nishant
(Expert) 29 September 2014
I must get all papers , So formation will be in two months after meeting me +919892931504
T. Kalaiselvan, Advocate
(Expert) 03 October 2014
Agree with the experts views that the first member either has to sign the lease agreement or give POA to bis wife or can jointly execute the lease deed.
By the way who is this Nishant and what is he trying to tell? Is he trying to solicit business by posting his version?
