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Triparna   10 April 2023

Property issues

What to do?

When someone has purchased a 1rk in a mahada building from the second owner who had a share certificate while selling and when the purchaser is trying to get the flat on his own, Mahada documents state that the house is still on the first owner's name?

the first owner is dead and there is no contact of his family.

Second owner who is the seller has a share certificate and other documents on his name.

Registration money and process has been done but the concerned person in Mahad isn't figuring out, how to resolve the issue?

 

 



Learning

 1 Replies

Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 )     10 April 2023

In case of transfer/resale, the original share certificate has to be given to the society along with the other documents needed. If the share certificate is being transferred to a new member after resale, they have to finished all paperwork prior to handing the share certificate, including the required transfer of shares procedures.

When the ownership of the shares is being transferred to another person, the new member has to pay the transfer premium, produce applications/documents required by the society while it has to be ensured that no dues are pending by the former member. In the event of the death of the original member, the heirs have to apply within 6 months of the death for the share transfer to the nominee along with the issuance of a new share certificate of society.


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