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Mumbai Cooperative housing society less than 20 members
9 months ago
Just want to confirm whether rules for transmission of shares from late wife to husband is the same or changed? Our understanding is that it is enough to submit form Appendix 15 (as per amended bye law 2014) , death certificate and letter of intent. Pls confirm updated rules if any.
A.Dear Client,
As per the Maharashtra Co-operative Societies (Amendment) Ordinance, 2019 (Mah. Ord. IX of 2019), and Sec.154B-13, on the death of a Member of a society, the society shall transfer share, right, title and interest in the property of the deceased Member in the society to a person or persons on the basis of testamentary documents or succession certificate or legal heirship certificate or document of family arrangement executed by the persons, who are entitled to inherit the property of the deceased Member or to a person duly nominated in accordance with the rules: Provided that, the society shall admit nominee as a provisional Member after the death of a Member till legal heir or heirs or a person who is entitled to the flat and shares in accordance with succession law or under will or testamentary document is admitted as Member in place of such deceased Member: Provided further that, if no person has been so nominated, the society shall admit such person as provisional Member as may appear to the Committee to be the heir or legal representative of the deceased Member in the manner as may be prescribed. As per Sec.154B-14, a society shall have a charge upon share and interest of a Member or past Member or deceased Member to the extent of dues payable by such Member to the society. Better for further clarification, you may visit the office of the Registrar of Cooperative Societies.
As per the Maharashtra Co-operative Societies (Amendment) Ordinance, 2019 (Mah. Ord. IX of 2019), and Sec.154B-13, on the death of a Member of a society, the society shall transfer share, right, title and interest in the property of the deceased Member in the society to a person or persons on the basis of testamentary documents or succession certificate or legal heirship certificate or document of family arrangement executed by the persons, who are entitled to inherit the property of the deceased Member or to a person duly nominated in accordance with the rules: Provided that, the society shall admit nominee as a provisional Member after the death of a Member till legal heir or heirs or a person who is entitled to the flat and shares in accordance with succession law or under will or testamentary document is admitted as Member in place of such deceased Member: Provided further that, if no person has been so nominated, the society shall admit such person as provisional Member as may appear to the Committee to be the heir or legal representative of the deceased Member in the manner as may be prescribed. As per Sec.154B-14, a society shall have a charge upon share and interest of a Member or past Member or deceased Member to the extent of dues payable by such Member to the society. Better for further clarification, you may visit the office of the Registrar of Cooperative Societies.
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A.Dear Client,
The Maharashtra Co-operative Societies Act, 1960, and Maharashtra Cooperative Societies Rules, 1961 provide two options namely; (1). Transfer to
Nominee of the deceased member and (2). Transfer to the Legal Heirs of the
deceased member. Standard Byelaws of Co-operative Housing Societies
provide procedures under Byelaws 34 and 35.
The nominee/s need to apply for membership and for transfer of shares
and give some declarations as provided under Byelaws 34.
The Secretary of the society needs to revert to the applicant in case of some
deficiencies or additional information. The Hon. Secretary needs to put
up the application in the meeting of the Managing Committee called after
that.
Thanks
The Maharashtra Co-operative Societies Act, 1960, and Maharashtra Cooperative Societies Rules, 1961 provide two options namely; (1). Transfer to
Nominee of the deceased member and (2). Transfer to the Legal Heirs of the
deceased member. Standard Byelaws of Co-operative Housing Societies
provide procedures under Byelaws 34 and 35.
The nominee/s need to apply for membership and for transfer of shares
and give some declarations as provided under Byelaws 34.
The Secretary of the society needs to revert to the applicant in case of some
deficiencies or additional information. The Hon. Secretary needs to put
up the application in the meeting of the Managing Committee called after
that.
Thanks
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A.Dear Sir,
Please consult local lawyer who is acquainted with local laws so that you can get exact legal advise.
Please consult local lawyer who is acquainted with local laws so that you can get exact legal advise.
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