Society has to first transfer share certificate in name of seller after receipt of transfer charges
then only it can transfer shares in your name
youcan issue legal notice to society for o transfer flat owners n your name
Society share certificate transfer - buying house from bank auction
I had purchased property by Bank auction of Dena bank. When I went society to transfer share certificate in my nake along with all registration documents and the dues like maintenance charges with transfer fee of Rs.50,000/= with original share certificate , they accepted the same. After continuously asking to transfer share certificate and after 3 months Society told me that Borrower of the bank did not transfer share certificate in his name, and bank also did not get the no objection certificate from the society for providing the loan against propety and because of that reason, we will not transfer property in your name and return my Rs.50,000/= what I paid towards share certificate transfer fee. I went to bank, but bank did not answer properly and told me to hire lawyer and give notice to society. Kindly guide as what to do?
Asked 6 years ago in Property Law
Religion: Hindu
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17 Answers
Whether is it fault from the bank as I purchased from e-auction by bank, and bank did not taken care of property title clear or is society fault as they are asking me to transfer the property in the name of borrower so that to payee Rs.50,000/= extra to transfer borrowers name & then they will transfer property in my name?? I don't know what are the laws pertaining to these situations and what short of actions to be taken against bank or society??
Asked 6 years ago
Society is asking transfer money for borrower Rs.50,000/= from their previous seller, and then asked me again to transfer money Rs.50,000/= to transfer share certificate from borrowers to my name
Asked 6 years ago
I had sent notice through registered post, society answered that legally we can not transfer sahre certificate in your name and returned the payment made of Rs.50,000/= after 3 months
Asked 6 years ago
Certainly, give notice to society. Only your name transfer fees will cahrge. And your title in intact, mere none/delay in transfer of SC dose not impact your ownership.
NOC for loan is requirement of bank and If bank process loan without NOC, society have no say neither can be object at later stage.
Obtain direction from court to trasfer SC in your name
Check the model bye laws adopted by society
in Maharashtra maximum transfer charges is Rs 25000
society can recover transfer charges for earlier transfer also
Contact a local lawyer and complain to registrar against the cooperative society refusing to transfer flat in your name
Amicable settlement is best option
check model bye laws adopted by society
1. You have an option of filing a Grievance Petition before the local Consumer Court, with all relevant documentary evidences, against the Society & Bank (BOTH), for their harassment, negligence, deficiency, unfair trade practices and pray for Transfer of Membership and also file claim for damages & compensation & interest etc.... for all the mental & physical trauma that you are being put to.
It's illegal you can file a complaint against the society to dy registrar. You can also file complaint of deficiency of service in consumer Court
Yo can issue a legal notice to the society demanding the same, let them give a reply refusing to transfer the share certificate to your name.
You can take further legal action on it by filing a suit before the cooperative court seeking direction to transfer the share certificate to your name.
You can include the bank as necessary party in both the legal notice and the suit seeking relief of compensation from bank for not providing proper guidance in the follow up action due to lack of procedures followed by them while granting the loan and for not cooperating with the buyer to get the property share certificate transferred to your name subsequent to the sale of property, which can be considered as failure to do their duty
You dont be worried about the laws involved in this situation.
You may proceed as per the suggestions to initiate legal action against the society or the bank or both.
Let them quote the law in this connection and refuse to comply wit yor demand, you can challenge their stand and the laws they cite and get your object achieved.
The society may demand any money which may be in accordance with the bye laws. The borrower has to give a reply to the demand made by the society in this regard.
You may be confined to your problem alone, you can disclaim their demand from the borrower and ask them to approach the borrower for that
If they have mentioned any law in this regard then you may challenge their refusal on the basis of their law, or else you can drag them to the cooperative court or the consumer court for relief and remedy.
You can discuss with your advocate on all such further issues and proceed on the advise rendered.
lodge complaints with the registrar of co-operative societies, approach co-operative court or consumer forum.
1. Search online for Lawyers practicing in Ahmedabad Consumer Court .OR. visit the Advocates Room in Ahmedabad Consumer Court, and file case on Society, AFTER giving proper Legal Notice.
Under section 12 of consumer protection Act 1986. And a formal complaint to dy registrar doesn't need a section
Maximum transfer fees is 25k.
1. In this case you should send a legal notice to society for transfer of share certificate by taking charges from you for transfer as society cannot charge you double transfer charges.
2. File suit against society for mandatory injunction to direct society to transfer of share certificate on your name.
