Thursday, 23 January 2020

Flat transfer document check list

Co-operative Housing society flat transfer procedure in Maharashtra

Transfer of Flats in a Cooperative Housing Society

When a flat buys or sells in a cooperative housing society some the legal process needs to follow buyer and seller. A member who wants to transfer his / her / flat in a co-operative housing society has to inform the committee by an application to the secretary of the society mentioning you are going to transfer your flat.

This application shall be placed before the next Managing committee meeting. It will then be decided whether the member is eligible to transfer his shares and interest in society. If the committee finds that the member is not eligible to do so, as their flat some outstanding so first the flat owner needs to clear the outstanding/dues.

An application for membership of the proposed transferee should be made in the prescribed form Valid reasons for the proposed transfer should be furnished All the liabilities of the society should be discharged Transfer fee should be paid Entrance fee of the proposed transferee should be paid Premium (as per  the general body meeting) has to be paid.

Like the below table society can make a template and keep in the office, and once an application comes for flat transfer just put a flat no. above and verify which documents received which pending is it good practice to a template,

  Documents required for transfer of a flat in a co-operative housing society:

Sr No
Bye Law Ref. No.
Society Manager

Verified By any one of above
Notice of Intention/Application to Transfer

Letter from member with all forms

Original Agreement Copy

Photocopy of Agreement of Original members with stamp duty, receipt copy and Index-2

New Agreement Copy

Photo copy of New sale agreement duly register, stamp duty paid receipt & Index-2

Transfer Fee
38 (e ) (vii)
Rs 500 Cheque only

Entrance Fee
38 (e ) (viii)
Rs 100 if one member else Rs 200 for 2 member

Transfer Premium
38 (e ) (ix)
Rs 20,000 or Rs 25,000 as per society AGM

Form 20 (1 )
38 (a )
A form of Notice of, intention of a member to transfer his shares & interest in the capital/property of the society

Form 20 (2 )
38 (a )
A form of letter of consent of the proposed Transferee for the transfer of shares & interest of the member (Transfer ) to him (Transferee)

Form 21
38 (e ) (i)
Form of application for transfer of shares & interest in the capital/property of the society by the transferor

Form 23
38 (e) (ii)
Form of application for membership of the society by the proposed transferee

Form 14
Form of nomination in triplicate

Form – 13
Form of notice of Resignation of Membership of the Society by a Member

Form – 3
19 (a) (iv)
The form of undertaking to be furnished by the Prospective members to use the flat for the purpose for which it is allotted.

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