10 August 2017
I am residing in a flat where the joint holders are my mom and father. Since my father expired, i want to replace the name of my father with my brother as one of the joint holders of the shares. Please let me know if it is possible and what is the process. there is no will or nomination of my father. can the first holder transfer the shares to the deceased
10 August 2017
Housing Society as such, does NOT allow joint membership. It is against cooperative society's act. It seems you have the share certificate in 3 names.....right?
10 August 2017
No, that is NOT possible. Many societies, in the absence of clear guide line from Cooperative department do issue joint share certificate. But it is wrong ab initio. Any way, in your case, as you have pointed out, the agreement with the builder & promoter (probably) had been entered into 3 names which must have prompted your society to issue the share certificate i 3 names. Now what you can do is submit the death certificate of your father and along with that request the society to add the name of your brother in place of your father. Please note, make these 2 application separate from each other.
CAclubindia
