• How to get the share certificate for flat in CHS

Dear all,

I have purchased a LIG flat from a builder in 2011. I got possession of the said flat in 2012. All due process of purchase such as stamp duty and registration has been followed at the time of purchase. I have the chain of agreement and the Index-II. Till date all dues of the flat have been paid. Also, amount has been paid to society in advance for the full year of 2017. I have not defaulted on any payment to the society.

At the time of purchasing the flat, the agreement was between me, the builder and the investor who assigned his purchase and all related rights in the property to me accordingly. This technically makes the purchase a resale transaction. This is a duly registered agreement. And the Index-II has the my name in it accordingly.

Around November 2015, builder called the representatives of 16 buildings to form the society. There is total of 256 flats in the said society. 

In December of 2016 the society issued shares to the owners of the flats who are the original purchases (first-owners).

The Chairman has stated the share certificates of second and subsequent buyers will be provided in the next AGM of the society.

Is this legal decision? Can I oppose this decision and get the share certificate earlier? What is the legal path to get the share certificate for the flat?

Thanks
Savio
Asked 7 years ago in Property Law
Religion: Christian

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4 Answers

1) you can oppose the decision as all flat owners should be issued share certifcates at the same time

2) you are a bonafide purchaser of value

3) tripartite agreement has been entered into between builder , seller and you .

4) builder has approved the transfer and submitted list of flat owners to the society

5) complain to dy registrar against the society

Ajay Sethi
Advocate, Mumbai
95223 Answers
7612 Consultations

5.0 on 5.0

Hi

There is no legal reason for them to delay issuing the certificate. They are wrong by delaying the same.

You should send the society a legal notice demanding the share certificate.

If you are admitted as a member in the society, then you have every right to get the share certificate

Thresiamma G. Mathew
Advocate, Mumbai
1642 Answers
212 Consultations

5.0 on 5.0

for your queries, the bye-laws of the society will be required and without the terms and conditions of the bye-laws of the society, best opinion is not possible.

Feel Free to Call

Nadeem Qureshi
Advocate, New Delhi
6307 Answers
302 Consultations

4.9 on 5.0

Is this legal decision? Can I oppose this decision and get the share certificate earlier? What is the legal path to get the share certificate for the flat?

The decision by the chairman is not his own, but a collective decision by the executive members of the society,

This is usual and common when a new society is formed

You will get the share certificate in the next round, so what is the urgency.

There is no legal provision to demand your certificate in the first round itself if you are not the first owner of the property.

T Kalaiselvan
Advocate, Vellore
85424 Answers
2239 Consultations

5.0 on 5.0

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