Is share certificate holder of plot in co op housing society owner of land?
8 months ago
If someone has share certificates of plot issued in his name in co op housing society but not in 7/12(Gujarat) is he still legal owner of that land? What if in 7/12 that land is in name of chairman of that co op society? Is chairman only owner of that land? Can share certificate holder add his name in 7/12 legally or there will be chairman's name only?
A.Dear Client,
1. Share Certificates: Share certificates issued by a cooperative housing society generally represent the ownership or membership in the society, but they do not necessarily confer ownership rights over the underlying land. The share certificates typically entitle the holder to certain rights and benefits within the cooperative, such as voting rights, access to common amenities, or a share in the profits of the cooperative, but not direct ownership of the land.
2. 7/12 Document: In Gujarat, the 7/12 document, also known as the Record of Rights (RoR), is an official document that maintains records of land ownership. It identifies the person who has legal ownership over the land according to the revenue records maintained by the government.
3. Chairman's Name in 7/12: If the 7/12 document shows the land in the name of the chairman of the cooperative housing society, it implies that the legal ownership of the land is vested in the chairman, at least as per the official records. However, this does not necessarily mean that the chairman has absolute rights over the land, as the land may be collectively owned by the members of the cooperative housing society.
4. Adding Name in 7/12: The process of adding an individual's name to the 7/12 document may require certain legal formalities, such as obtaining consent from the relevant authorities and following the procedures prescribed under the local laws. If a share certificate holder wishes to have their name included in the 7/12 document as a legal owner, they may need to initiate the necessary legal steps and seek appropriate legal advice to ensure compliance with applicable laws and regulations.
Thank you.
1. Share Certificates: Share certificates issued by a cooperative housing society generally represent the ownership or membership in the society, but they do not necessarily confer ownership rights over the underlying land. The share certificates typically entitle the holder to certain rights and benefits within the cooperative, such as voting rights, access to common amenities, or a share in the profits of the cooperative, but not direct ownership of the land.
2. 7/12 Document: In Gujarat, the 7/12 document, also known as the Record of Rights (RoR), is an official document that maintains records of land ownership. It identifies the person who has legal ownership over the land according to the revenue records maintained by the government.
3. Chairman's Name in 7/12: If the 7/12 document shows the land in the name of the chairman of the cooperative housing society, it implies that the legal ownership of the land is vested in the chairman, at least as per the official records. However, this does not necessarily mean that the chairman has absolute rights over the land, as the land may be collectively owned by the members of the cooperative housing society.
4. Adding Name in 7/12: The process of adding an individual's name to the 7/12 document may require certain legal formalities, such as obtaining consent from the relevant authorities and following the procedures prescribed under the local laws. If a share certificate holder wishes to have their name included in the 7/12 document as a legal owner, they may need to initiate the necessary legal steps and seek appropriate legal advice to ensure compliance with applicable laws and regulations.
Thank you.
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A.Dear Client
It is to be seen that in whose name the land has been allotted or registered. Whosoever is holding the land will be the owner. The share certificate gives you ownership in the cooperative society and if the land is part of the society then you have it too.
It is to be seen that in whose name the land has been allotted or registered. Whosoever is holding the land will be the owner. The share certificate gives you ownership in the cooperative society and if the land is part of the society then you have it too.
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