Transfer of share certificate after death of the shareholder
Prachi
(Querist) 11 March 2018
This query is : Resolved
Hi, I own a 2 BHK flat in Pune with my name as the first owner and my father-in-law as the second owner of the flat. so we are 50% Shareholder of the flat each. Though I have done nomination of my share (to my Spouse) , my father in law had not done any nomination for his share.
Now after his death 4 months back, the society is asking to submit the succession or Legal Heir Certificate and also asking to pay 5% stamp duty on the Market value to get the Share Certificate..
I have a few queries related to the same,
1 ) Is succession certificate must in case of no nomination. If we get NoC from all the stakeholders (In my case my husband and his Brother) ,
can we get Share Certificate.
2) is Succession Certificate reqd or Legal Heir Certificate will be sufficient ? or are they same ?
3) Does an affidavit stating that I am the first owner and wish to tranfer the shares on my father in law's name to my mother-in-law..
can be done...
4) Is paying the stamp Duty necessary to obtain the Succession Certificate..
Pls answer my queries and let me know how to get out of this situation.
Thanks,
P
P. Venu
(Expert) 12 March 2018
What the Society can transfer is the membership in the Society and the property owned by the father in law. If Succession Certificate is required for the purpose, the same is required to be issued by the Competent Civil Court following the due process.
