transfer of shares in co-op soc
CHANDRASHEKHAR
(Querist) 07 October 2010
This query is : Resolved
Dear experts will u pl advise my qry.In our society a member expired in 2001 when construction was in swing. the occupation was given by mumbai muncipal corp in 2003.. the bills are in the name of old member. now the daudhter of the expirede member is requesting the society to trasfer the shares and bills in her name. no nomination is done
now what legal steps should society insist upon her to consider har request.
Wheather society can trasfer shares to the wife of deceased member in absence of will and succession cft...thanks cmm1075
Amita Chaudhary
(Expert) 07 October 2010
In abesence of nomination the society should ask for succession certificate... as all the class 1 legal heirs have equal rights in the property unless the same are relinquished in favour of one... well the class 1 heirs under the Hindu Succession act are as under;
"Son; daughter; widow; mother; son of a pre-deceased son; daughter of a pre-deceased son; son of a predeceased
daughter; daughter of a pre-deceased daughter; widow of a pre-deceased son; son of a predeceased
son of a pre-deceased son; daughter of a pre-deceased son of a pre-deceased son; widow of a
pre-deceased son of a pre-deceased son."
therefore, in the present case wife and daughter have equal rights in the property unless there are no other legal heirs.
i believe the person is hindu or their respective sucession law would apply.
CHANDRASHEKHAR
(Querist) 08 October 2010
DEAR EXPERTS
LOT OF THANKS FOR QUICK AND NICE REPLY.
Chanchal Nag Chowdhury
(Expert) 08 October 2010
Since it is an immovable property, there cannot be any Suc. Certificate.
The society should insist on a heirship Certificate & if the daughter can get the consent of the other heirs, the society may put the name of the daughter in place of the deceased.
