transfer FEE with Nominee in case of Owner's death
Subhash Macha
Sir, click above link for information on your query.
To my opinion, there should be no transfer charges with nominee after owner’s death, if it is happening within blood relationship.
Else the purpose of whole nomination process will get defeated.
It is advisable to take indemnity bond and affidavit from nominee to secure the amount, in case if it arises through any legal compliances further.
Refer Bye Law No. 38 (e)
The Transferor/ Transferee shall submit following documents and make the
compliance as under:
(i) application, for transfer of his shares and interest in the
capital/property of the society, in the prescribed form, along with the share
certificate;
(ii) application for membership of the proposed transferee in the prescribed
form;
(iii) resignation In the prescribed form;
(iv) stamp duty paid agreement;
(v) valid reasons for the proposed transfer;
(vi) undertaking to discharge all the liabilities to the society by transferor;
(vii) payment of the transfer fee of Rs.500/-
(viii) remittance of entrance fee of Rs.100/- payable by the proposed
transferee;
(ix) payment of amount of
premium at the rate to be fixed by the general body meeting but within the
limits as prescribed under the circular, issued by the Department of
Co-operation/Government of Maharashtra from time to time.
No additional amount towards donation or contribution to any other funds or
under any other pretext shall be recovered from transferor or transferee.
(x) submission of ‘No objection’ certificate, required under any
law for the time being in force or order or sanction issued by the Government,
any financing agency or any other authority;
(xi) the undertaking/declaration in compliance with the provisions of any law
for the time being in force, in such form as is prescribed under these
bye-laws.
Note The condition at Sr. No. (ix) above shall not apply to transfers of
shares and interest of the transferor in the capital/property of the society to
the member of his family or to his nominee or his heir/legal representative
after his death and in case of mutual exchange of flats amongst the members.
i.e. You have to pay Rs.100 as
Entrance Fee + Rs.500 as Transfer Fee,
But No Transfer Premium is payable.
Regarding "transfer of flat by nomination doesn't make the nominee the
owner of the flat"
For any help/assistance, you may put your queries in big helper
Please feel free to contact me for any further assistance
Regards
Subhash Macha
9819043703
From: KANARA BUSINESS
CENTRE GHATKOPAR MUMBAI [mailto:kbcso...@gmail.com]
Sent: Thursday, November 18, 2010 10:57 AM
To: Subhash Macha
Subject: Re: society administrative queries/big helper
Mr Subhashji,
I shall be thankful if you could kindly explain me how to go about it. For example I wanted to know whether transfer charges will be taken from the Nominee after the death of member etc.
Thanks for sending me the information.
N R RANE
On Wed, Nov 17, 2010 at 12:06 PM, Subhash Macha <subhas...@oracle.com> wrote:
Click here
http://www.bighelpers.org/forum/cooperative-housing-societies/index3.html
Please store this link as your favorite
Regards
Subhash Macha
