Vinayak Mahamunkar
I am residing in Mumbai, Maharashtra, my friend and his wife had purchase a flat jointly in a co-op.Hsg Soc.Ltd, in the year 2010.After registration of the agreement and making other formalities, the society have issued share certificate in the names of my Friend as First Member and his wife as second i.e.joint member.The necessary approval have also been given by the General Body of that Society.
Now my friend wants to delete the name of his wife with her consent from the share certificate. He apply for that purpose to the housing society for deletion of her wife’s name, however, the society has refused to delete the name of his wife from the share certificate saying that she is a joint purchaser and her name cannot be deleted, even though she has given consent for deletion of her name from the share certificate.
Sir, my question is that my friend’s wife is a joint holder of the flat.i.e. she is a Associate member, whether society’s stand not to delete the name from the share certificate eventhough she has given consent in writing is correct or otherwise ? What is the remedy?
I C Naik
Vinayak Mahamunkar Malad (MUMBAI) wants to know if his friend’s wife being a joint purchaser of a flat (purchased in 2010) with her husband as first member and admitted by the general body meeting as Associate Member can now take an exit. Society management are not allowing as she is a joint owner.
First of all let me clarify a power to grant admission to Membership of individuals is vested in the managing committee.
Two minimum traits are made compulsory for a person to joining a cooperative society, namely Voluntary decision and acquisition of economic interest in the Society. Conversely when a person acquires an interest in the capital/property of the Housing society, (Flat) pursuant to his/her own covenants signed as required under Section 4 of MOFA 1963 he/she is obliged to sign an application for registration of the housing society. As per the M C S Act 1960 a person signing such application becomes member upon registration of the Society. Such member has also consented to abide by the Bye-Laws of the Society knowingly or unknowingly.
Associate members are of two types namely one is like the wife of Vinayak’s friend who is a part owner of the flat, Another is having no interest in the capital/property of the Housing society, (Flat)
As in this case she has acquired interest in the capital/property of the Housing society she has to part with the same to her husband by way of gift and register the gift deed and then apply to the Society for cessation of membership. The Government has recently decided to waive stamp duty on transfer agreements with in the family. After this the Society cannot refuse deletion of her name as Associate member.