I am a member of a Housing Society being Redeveloped and I was the owner of one single flat in the same.At the time of Redevelopment I opted for 2 flats in the same alloted to me under 1 agreement for both the flats by the developer.
Now I wanted to sell one of the flats and after getting a no objection from the society and developer,a new agreement was made for sale of 1 flat and executed a sale agreement with the buyer duly registered and stamp duty paid.
Now the buyer's bankers insist on the share certificate being surrendered to them as otherwise they will not sanction the loan.The society has assured the buyer that the share certificate will be issued only after the membership formalities have been completed.
If I surrender the share certificate to the bank,I have no proof of the second flat. Under the above circumstances how can I solve this problem?
PLEASE HELP.
Thanks
