Vikram Murdeshwar
I’m a resident of a Co-operative Housing Society in Karnataka. I would like to know if there is a provision for shares to be held in joint names.
To provide some context – Our flat is in my mother’s name.
We want to transfer it to my Father’s and Sister’s name (preferably joint)
Hence the question.Would also appreciate if you can give us the pros and cons of it as well.
I C Naik
Such provisions are to be made in the registered bye Laws of the Housing society concerned. So the beat way to find it out is to buy a copy of the BYE LAWS because as per Section 18(4) of The Karnataka Cooperative Societies Act 1959 Associate Member shall have privileges and rights of members as are specified in bye laws.
As regards transferring a flat held in your mother’s name to your Father’s and Sister’s name (preferably joint) provisions bye laws have to be consulted and the society’s bye Laws are accessible to its members only.