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Natarajan Viswanathan (engineer)     20 September 2016

Housing society

In our hsg society, in Mumbai,a lady member died .She had nominated her son.Her son got the shares transfered to his name .His name was also entered as Member in the share certificate.Now when the managing committee decided to change the names of the new members(some other members also resigned and new memberscame) in the Society Members Name Board,the son who became  a member objected and said that his mother,s name only should remain and his name should not be written in the Name Board.Further he says that it his Choice an Society has no say in thismatter.Managing Committee says that only member whose name is in the share certificate should be written.Kindly advise what is to be done.

Regards to the Experts.



Learning

 4 Replies

P. Venu (Advocate)     20 September 2016

It could be that there are some internal problems among the legal heirs of the deceased lady. Please note that a nominee is only a trustee for the legal heirs. 

Kishor Mehta (CEO)     20 September 2016

Sir, As a usual practice the names on the sign board are copied as per the names on the share certificate and in that order. However if the member wishes for the previous name to continue, you may take a written guarantee from him that he will be responsible for any an all adverse reaction because of his request. Good luck, Kishor Mehta

Kumar Doab (FIN)     20 September 2016

Expert Mr. Venu has pointed out essence of the matter.

 

 

Kumar Doab (FIN)     20 September 2016

If society bye laws are in accordance with the Model Bye Laws and society has acted in compliance then society has not erred.

 

If son is apprehensive and want to conceal then he sould understand that share/inheritance does not vanish with time.

 

The  legal heirs/successors can appraoch the court of law for their share/inheritance. 


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