Is this provision retrospective from any date or prospective. If property is already transferred in 2021,can society put provision Al in front of owner now? Does it stop from selling property by the owner or provisional owner
Husband and wife original joint members jointly nominated their only child as nominee. Father died interstate. Now the only child wants to add his name in the share certificate joint with his mother as he is class 1 heir of the deceased father. 1) Does the mother become the sole owner and child continue as nominee. 2) Can the child’s name be added as a joint member in place of his father, if yes, how?
I would like to know that if 100% nominee and only legal hier then also probate required?
11 May 2021 8:16am
A nominee is just a caretaker of the share being allocated to him, he cannot claim ownership on it is very much advisable for the concerned person to obtain succession certificate/legal heirship certificate/probate or etc from the court which will help the society to safe gaurd itself for any future consequences.
Thought, according to Section 30 of the Maharashtra Cooperatives Societies Act, for instance, the society is legally allowed to transfer the property in the name of the nominee, in case the owner has submitted the nomination form to the society, in respect of that property but it is always advisable as per supreme court guidelines to obtain such certificate before transferring any movable or immovable assets.
yes, its really very much useful. i being the chairman of housing society in Pune, was under the impression that, the managing committee of a housing society can straight away transfer the flat in the name of valid nominee available on record and accordingly change or put the name of nominated person in the share certificate in the capacity of a trustee for legal heirs of subject flat. however, as per new amendment, we are bound to give only provisional membership to nominee till such time, the legal heirs bring forth the succession or heir ship certificate from proper court of law. thanks a lot for sharing the useful article.
11 May 2021 8:10am
Thank you so much for liking this article. The Golden word is a Nominee is just a caretaker of the share under which he is nominated and he cannot claim ownership on that part.
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