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 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 even though she has given consent in writing is correct or otherwise ? What is the remedy ?
I C Naik
Bye Law Numbers 58/61 provide as under:
The person shall cease to be the associate member of the society, when the original member ceases to be the member of the society or on the death of the associate member or on the acceptance of the resignation of the associate member by the Committee.The Committee shall take further action in the matter as indicated in the bye-law No. 61.
61 The Committee shall record the facts of cessation of original member’s membership of the society under the bye-law No. 57 and of associate and nominal member’s membership respectively under the bye-law Nos. 58, 59 and 60, in the minutes of its meetings and accordinglythe Secretary of the society shall inform theconcerned membersin writing within 7 days of the dates of such decision
So one wonders why the Committee did not follow these bye Laws?
The Flat was purchased jointly and as such his wife’s name appears in the flat purchase agreement which is one of the mandatory condition of membership. The Bye laws do not deal with how to handle the flat purchase agreement except to verify a stamped copy before admitting a person to membership.
So a gift deed for the prorated share of the wife has to be registered which is an evidence of the fact that the joint member has relinquished his/her share in “the interest of the capital/property of the Society”. The gift deed will have to be stamped and registered as may be adjudicated by the Collector of Stamps. Along with the resignation of the wife a certified copy of this registered gift deed will have to be put on record before the society deletes the name as Associate member.