Maharashtra Co-operative societies act

Soft copy of the MCS Act ... Even I'm looking for the same, since referring the book, now has become cumbersome after getting addicted to the computer.  In case, if anybody happens to have the soft copy of the MCS Act, please oblige and email the same to me at  "ha21@rediffmail.com"  or provide me the link from where it can be downloaded.

REGARDING  "joint owner" ...
1. As per the MCS Act, there are only First holder and second holder and so on.  No provision for "Joint Holder".  The First holder is the "Registered member", u/s 6 of the MCS Act, with the right to Vote, Contest, attend AGMs, and so on...
2.  The second holder (2nd joint owner) has got no rights, without the written consent of the First holder.  Hence technically, the second holder (2nd joint owner) is not the registered member under the MCS Act.
3. By the above logic, no rights or liabilites or legal proceedings accrue on the second holder.
4. Under the MCS, there is no such thing as "OWNER" of the property.  IT is only "MEMBERSHIP".   The registered society, having conveyanced property, is the "owner" of all the properties.

Keep Smiling ... HemantAgarwal (9820174108)

Hi,

Can you reccommend a hard book of the latest rules & amendments under MCS Act 1960? Where can one purchase the same in Mumbai?

Thanks in advance.

Ajay.

But doesthe second owner sell, transfer, bequeth the property without the knowledge or permission of the first holder?

I agree with Hemant Agarwal that in a CHS there is only membership and no ownership. In fact as per bye-laws if the holder wants to dispose off his/her flat, they have to sell it back to the Society.

However at the same time I have been reading that the CHS cannot stop it members from selling their flat yo anyone they wish and also that the CHS cannot refuse membership to the new holder. 

Also the nomination form contains a column wherein you can nominate  a percentage of the flat to each owner. Now a nominee is not the heir. How can you nominate a percentage to each nominee?

All the above rules are controversial!

Mr. Hemant can you shed some light please

Haresh I guess you mean cant the second holder sell.

The second holder cannot sell. All rights rest with the first holder.

Even the first holder cannot sell w/o the knowledge of the other holders.

In fact even if there is only one nominee, he cannot sell w/o clearance from the other heirs, indemnity bond etc.

Hi Please find the attached file.

Dear Sir,

Greetings for the day?

I would appreciate, if you could please let me know the following queries as follow.

My Mother has a Commercial property in Bandra Mumbai. What is the best way to transfer the Property in her two
sons name in the share ratio of 40% and 60%.

I would also like to know the following.

 

1. (Most Imp) Is the Nomination in the Co- operative society by my Mother in her Two sons name sufficient.
Will our names in the Co- operative Society be transferred after her.

2. Is better to make a (Will or a Gift Deed.) Which is more effective for Mumbai Maharashtra.

3. How important is a Will to be registered.

Thanking You,

Vikas.