my friend MR.A bought a residential flat from B. MR.B executed ASSIGNMENT OFDEBT DEED WITH MR A. B had bought the said flat property inBANK AUCTION and the bank executed ASSIGNMENT OF DEBT DEED [ NOT SALE DEED] in favour of the bidder MR.B who paid the amount as per the bid accepted by the bank. The flat is in co op housing society. The Management committe of the CHS on goingthrough the document yet to admit my friend Mr A as member of the CHSs. maintenance bill still issued in the name of the old member who defaulted to HDFC BANK. one of the Member not MC Member in the AGM orally remarked that ASSIGNMENT OF DEBIT means it is usually linked with the right of subrogation. Mr.A has only right to occupy the flat and he is not an absolute owner since sale deed is not exeuted. i do not understand. Any ADVOCATE pl clarify : 1.Whether Mr A can be admitted as member of the CHS or not. 2.if Mr.A wants to sellthe flat can he not execute sale deed or again he has to execute the ASSIGNMENT DEED? 3. WHAT IS SUBROGATION RIGHT in this case.
