• Right to Sell My Share in the flat of co-op hsg society

Hi,
I wanted an expert opinion regarding the right to sell the share in the flat.

My late father had ownership flat in a co-op hsg society in Mumbai city. My brother and myself are the legal heirs. This year, the society has decided to redevelop the building. The area of the flat is 800 sq.feet. My brother has occupied this entire flat. The flat is still in the name (membership) of my late father with total five shares. The society will add my name and my brother's name as joint-members on the Society's record in coming days. 

As I reside in other city and I do not have funds to purchase additional or allotted FSI. So want to sell my half share in the existing flat (old flat with 800 sq.ft total area) before the redevelopment starts/ or before the redevelopment agreement with the builder. My share will be 400 sq.ft (for sell)

My Questions are as follows:
1) Whether I have got legal right to sell my share (400 sq.ft) in the existing flat to third-party like other member or builder/re-developer before the redevelopment agreement with the builder, allowing my brother to continue to stay in the entire existing flat un-till the building is demolished by the builder?

2) If I sell my half share (400 sq ft) to the member of the society before the redevelopment, then will he (buyer) get the benefit of additional FSI given by the builder on that flat?
Asked in Property Law from Mumbai, Maharashtra
Religion: Hindu
1) let the flat be transferred in joint names .

2) you are co owner of flat . under section 44 of transfer of property act co owner can sell his share in the property without const of other co owner 

3)the purchaser can file suit for partition for division of flat by metes and bounds 

4)the buyer will get benefit of additional FSI on the flat 
Ajay Sethi
Advocate, Mumbai
28541 Answers
1548 Consultations

5.0 on 5.0

1) Whether I have got legal right to sell my share (400 sq.ft) in the existing flat to third-party like other member or builder/re-developer before the redevelopment agreement with the builder, allowing my brother to continue to stay in the entire existing flat un-till the building is demolished by the builder?

You along with other legal heirs which include your mother are entitled to an equal share in the property. If the builder agrees to buy your undivided share in the property to be redeveloped, with the consent of your brother you may proceed with the proposed sale of your share.





2) If I sell my half share (400 sq ft) to the member of the society before the redevelopment, then will he (buyer) get the benefit of additional FSI given by the builder on that flat?

It depends on the agreement to be entered by the builder with the member owner of the property.
T Kalaiselvan
Advocate, Vellore
18745 Answers
176 Consultations

5.0 on 5.0

1. You are at liberty to alienate your fixed share in the flat to anybody you desire but the buyer cannot take the possession of the property unless the property is divided.

2. The benefit of additional FSI will accrue to the buyer after redevelopment. 
Ashish Davessar
Advocate, Jaipur
19896 Answers
520 Consultations

5.0 on 5.0

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