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Narendra K   02 November 2022

can cooperative society charge transfer fee for transfer by way of gift deed to family members

can cooperative society charge transfer fee for transfer by way of gift deed to family members


Learning

 6 Replies

kavksatyanarayana (subregistrar/supdt.(retired))     02 November 2022

Yes.  Transfer fees may be collected by the society.

Dr J C Vashista (Advocate)     03 November 2022

Since the Society is concerned with transfer of share in the name of titleholder (donee in the instant case) there is no such provision to charge any transfer fees in any of the State Cooperative Soceities Act, if I am not wrong.

It would be better to consult a local prudent lawyer as local (State) laws apply in the instant case

Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 )     03 November 2022

The transfer fee is based on the agreement between the residents and is incorporated in bye laws of the society if it is approved in AGM that limit prevails on any clause in the apartment act.

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     08 November 2022

In which State are you?  In Maharashtra the Society can collect a tranfer premium from the transferor. Once upon a time it was Rs.25000/- I do not know how much it is now. If the transfer is to a close relative, no transfer premium can be charged.

Narendra K   12 April 2023

We are from maharashtra mumbai. Our querry is 

Can a cooperative society charge any transfer fees for deletion of first name of the 2 joint holder, on demise of that first member? 

Can society charge transfer fees for adding family members names in share certificate to make them joint holders ?

Can society charge any transfer fees for transfer of titles in name of blood relatives by way of duly stamped & registered gift deed?

Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer)     29 April 2023

Whenever a transfer is made there are two things one is transfer fee and the other is transfer premium. Transfer fee will be mostly a small amount say less than Rs.1000/- People mostly pay the amount without protest. Transfer premium will generally be a large amount. Under the law in Mumbai it cannot exceed Rs.25000/- . This limit is there for a long time. I do not know whether the amount has been increased. There is no transfer premium for transfer between relatives. Some societies in Mumbai charge even lakhs of rupees as transfer premium. People pay the premium to avoid protracted court battle.

When a flat is held in joint names, there is no law which says  removal of the deceased member and make the property entirely in the names of the surviving members unless the purchase or transfer deed clearly states that the property was held jointly or survivors basis. The deceased member may have legal heirs outside the joint holders. The legal heir can claim the deceased holder's share in the property.

If the deceased holder was primary member of the Society, the surviving members should decide among themselves as to who among them should be primary member (and others associate members) and apply to the Society accordingly. There can be a transfer fee, but no transfer premium.

No person who was not a joint holder at the time of death of the deceased member and who was not necessarily a legal heir of the deceased member, can be added as the holder of the property without a transfer deed and payment of stamp duty. Transfer premium need not be paid if he is one of the specified relatives of the deceased member under the law.


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