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saroj bhanu   11 August 2015

Refund of life time maintainence at time of selling

SIR ,
MY UNCLE BROUGHT A FLAT 8 TO 9  YEARS BACK IN MAHARASHTRA. AT THE TIME PURCHASING UNCLE PAID EXTRA 20,000/-FOR LIFE TIME MAINTAINENCE ( THAT MEANS HE NEED NOT TO PAY ANY MAINTAINENCE EVER )
NOT ONLY HIM BUT EVERY 32 MEMBERS OF SOCIETY PAID . THAT 20,000/-( 20,000 * 32 = 6,40,000 ) AS SAVED IN SOCIETY FUND IN BANK AS FIXED DEPOSIT .


NOW HE WANTS TO SELL HIS FLAT - BUT MY QUESTION IS :-


1) DO WE GET BACK THAT 20,000/-( THAT IS OUR SHARE )  FROM SOCIETY FUND ?
2) OR SHOULD WE CHARGE EXTRA 20,000/- FROM PURCHASER AT TIME OF SELLING ?

THANKS

( ANSWER IN DETAILS AND SEQUENCEWISE PLEASE)
 



 1 Replies

Advocate Rohit (Advocate)     11 August 2015

you need to charge extra fro mthe prospective purchaser as it would be impossible for the society to keep breaking the FD at regular intervals for the re-sale of the units taking place.

 

Regards

Adv. Rohit M. Dalmia

9324538481

Mumbai


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