Hello,
Im posting this query to get some clarity on the sale of our house.
My father bought this flat in Oct'2003 via a ICICI home loan.
The original documents, 2 sale agreements and share certificates were deposited with ICICI home finance then.
There started a bungling up of documentation. The society was supposed to make the transfer in favour of my father/mother on the share certificates and then submit it to the bank. They didnt and submitted the share certificate withhout appending my father/mothers name on it.
My father passed in 2008. We cleared out the pending home loan and got our documents back from the bank. Due to oversight, we failed to realize that a transfer on the share certificate was still pending.
I noticed the discreppancy in Feb 2015 and requested the society to do the needful. Society directed my to clear my pending dues and follow public notice procedure to get my mothers name appended on the Share certificates.
I cleared all dues to society and also submitted an affidavit + public notice copies to the society.
They appended my mother and fathers name on the share certificate and dated it March 2014.
Then they kept dillydallying for deleting my fathers name fro the share certificate and keeping just my mothers name.
In the meantime, due to massive repair work in society, a new big bill was raised for dues and i couldnt pay it immediately and cause of that they again held up adding my mothers singular name in the share certificate.
Now we have decided to sell the flat. I cleared out all my dues. But the secretary said, they will treat adding my mothers name as a "transfer" and due to society bye laws, another transfer in favour of the purchaser will be made only after one year.
I had submitted an application for making the transfer in my mothers name in March 2015 and cleared all dues till then. Yet they didnt make the transfer. Shouldnt there be a time frame for making it ?
Will this affect my ability to sell the flat ?
Society btw has agreed to give NOC for sale of flat and i should get it in a day or two. The secretary said that the NOC will be qualified to note that the transfer for the purchaser will be made only in a years time. my mothers name has still not been appended on the share certificate yet.
Would appreciate advice in this matter.
Regards.