suryadhakray 27 June 2016
siddharth bhagat (Business) 28 June 2016
Adv Y R Chandwadkar 28 June 2016
Kishor Mehta (CEO) 28 June 2016
advocatepassy@gmail.com 971794 (Advocate) 05 July 2016
advocatepassy@gmail.com 971794 (Advocate) 05 July 2016
Sudhir Kumar, Advocate (Advocate) 24 July 2016
Fully agreed with above views.
Dr. MPS RAMANI Ph.D.[Tech.] (Scientist/Engineer) 28 July 2016
As stated by experts any two or more individuals can together buy a property. But if it is co-operative housing society in Maharashtra there are some peculisrites. Only one of the purchasers will be admitted as member of the society. Others can be admitted only as Associate members. The only right the Associate members will have is to vote at a general body meeting if the main member is not present. If the main member files nomination with the society a person other than the other joint owners, the society will transfer the property to the nominee. According to the Model Byelaws approved the Registrar for Co-operation, Associate Members automatically cease to such members on the death of the first member. It will be for the others to keep a vigil and claim their rights from the nominee. If they sleep and the nominee sells the flat to a third party, it will become diffcult for other original joint owners to make their claim. In an open plot type society, the society buys the land and consructs the building or purchases the building in the name of the Society. So all the registered tranfer documents will be in the name of the Society. The Society will allot flats to the members and there will be no registered tranfer deed in the name of the members. Along with the flat the society will allot shares also. The share certificate will have the names of all joint owners but not the identity of the flat. Thus there is a lacuna in Maharashtra law.