I have recently purchased the flat in Mumbai in coop society and also obtain loan from bank.
the society is demanding fee of transfer of shares from both the party 25000 each and the seller is not willing as he says the rules are that only buyer have to pay the fees
and also because of this I am not able to get the NOC for Loan.
please help
And also which of the forms are required for transfer of shares.
Hello Dhrumin!
As far as Transfer Fees is concerned, Society is worng in asking both the parties to pay Rs. 25000/- each. As per byelaws of the society society cannot demand more than Rs. 25000/- towards transfer fees.
Further, if society is insisting for it than ask the seller to get the copy of the minutes of the meeting where such resolution was passed by the society with majority.
Instead of fighting with the society right now, it is advisable to make the payment by cheque/NEFT and obtain receipt of the same from the society and latter on approach the Dy-Registrar of society/Co-op. Society Court to declare those minutes of meeting as void as it is contrary to the bye laws.
Further with respect to the form, you will be requiring:
Form No. 20(I), Form No. 20 (2), Form No.21, Form No.23, Appendix 13, Form No.4, Form No.5, Membership Application Form, Form No.25,26, 20A and Form No.3.
Regards
Adv. Rohit M. Dalmia
9324538481
