Thursday, 23 January 2020

Flat transfer document check list

Co-operative Housing society flat transfer procedure in Maharashtra

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
Form/Application
Bye Law Ref. No.
Description
Society Manager
Chairman
Secretary
Treasurer

Verified By any one of above
1
Notice of Intention/Application to Transfer

Letter from member with all forms




2
Original Agreement Copy

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




3
New Agreement Copy

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




4
Transfer Fee
38 (e ) (vii)
Rs 500 Cheque only




5
Membership Fee & Form
38 (e ) (viii)
Rs 100 if one member else Rs 200 for 2 member




6
Transfer Premium
38 (e ) (ix)
Rs 20,000 or Rs 25,000 as per society AGM




7
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




8
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)




9
Form 21
38 (e ) (i)
Form of application for transfer of shares & interest in the capital/property of the society by the transferor




10
Form 23
38 (e) (ii)
Form of application for membership of the society by the proposed transferee




11
Form 14
32
Form of nomination in triplicate




12
Resignation Letter

From original Member




13
Form 25
38 (e ) (xi)
Form of declaration for not holding immovable property under the ULC Act.




14
Form 26
40
A form of intimation by the society to the transferee about exercise of right of Membership by him.











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