Transfer by Nomination Form
- This is a big misconception. The society has to transfer to the nominated member for the convenience sake. Filling up a nomination form is just an intent of the member to tell the society that such and such person will deal with you after the demise of the active member.
- However to complete such a transaction/formalities, following process of law will have to be followed:
- Letter addressed to the Chairman/ The Secretary, by the Nominee in whose name nomination is registered in society records. His/Her intent to be a member of the society after the demise of the first named member.
- Copy of the nomination form which is duly registered with the society, in which date and number of registration are mentioned.
- Copy of the first named owner’s death certificate.
- FORM NO: 15 – Application to the society for membership along with the requisite application fees. It is safer to have FORM 17 also along with Form 15
- The original share certificate.
- Advertisement in two papers. 1. English and one Vernacular. (Specimen as in Form 16). If share certificate is lost or mutilated, the same can be incorporated in the above advertisement.
- FORM – 4
- FORM 27 (2) – If the value of the property is more than Seventy Five lakhs
- INDEMNITY BOND by the Applicant, indemnifying the society from any claims/ legal, quasi-legal, semi-legal process which might hamper the transfer of the said share certificates
- This bond will clearly indicate that the applicant is the sole legal heir of the deceased member, and/or he has obtained NO OBJECTIONS from his/her siblings and other legal heirs and claimants, banks etc and the premises has no loan pending
- FORM – 18: If there is an ownership dispute between the legal heirs or anyone else, Society will transfer the shares to the applicant, subject to his/her getting a clearance from the Courts (in this case the jurisdiction is Mumbai). In case the court decision goes against the nominee, the managing committee will have no option but to follow court orders and not the nomination form.
- In case of a dispute or there being more than one claimant to shares, the applicant and others involved in the litigation will not be considered members, hence not allowed to vote or contest society’s elections
All this is in addition to the original sale deed with the builder or the previous owners, which should be in Society’s records. If it is not, the applicant will have to provide a copy of the previous sale deeds also.
- No / Nominal Stamp duty is applicable. It is recommended that the Nominee after he/she gets all clearance, within six months, gets the documents stamped by the Revenue and Stamps office and thereafter register with the sub-registrar. This will update the Government records in his/her favor.
- Transfer of electricity meter/ telephone and other utilities like gas supply will have to be undertaken by the transfree.
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