Dinaz Treger-Patel 20 August 2021
The secretary of my building (a CHS Ltd) expired recently.
I am in the midst of selling my flat (ownership). My query is, who/ which persons will sign while transfering the Share Certificate?
Also, will the new secretary be selected from the Committee members or is anyone outside the Committe eligible for the post of Secretary?
Kindly guide me with the information.
Anusha Singh 13 October 2021
As per your query it is understood that you need information regarding the share certificate.
The Share Certificate has to be collected by the member himself in person.
The member’s property should be clear of lieu.
The conveyance deed from the builder should be in possession of the society.
Every Share Certificate should have the seal of the society and be signed by the Chairman, the Secretary and one member of the committee, and authorised by the committee before being issued by the Secretary.
The name and the order of names (for primary/associate member) should appear exactly as it is on the original sale agreement between the member and the builder.
The member has to indemnify the society against any loans against its name, finish any paperwork and clear any arrears that have to be paid to the society.
The society has to ensure that the member provides an indemnity bond stating that he has not transferred the share certificate to anyone else or created any charge or mortgage on the share certificate in favour of any bank, employer, any person or finance agency.
The member has to present the original sale agreement while collecting the share certificate.
The committee of society can elect any member of the society who wish to be the secretary and is eligible to take the responsibility.
Hope it helps!
Regards,
Anusha Singh
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
