In a Share certificate if the First member (Husband) has transferred the flat to the Second Member (Wife) and admitted her as Associate member. The Back side of form is endorsed as to be read as name of first member and second member.
In the Joint/Associate form the second member is Wife.
On the demise of the First Member does the flat automatically gets transferred in Wife’s name.
I C Naik
In a Share certificate if the First member (Husband) has transferred the flat to the Second Member (Wife) and admitted her as Associate member. The Back side of form is endorsed as to be read as name of first member and second member.
In the Joint/Associate form the second member is Wife. On the demise of the First Member does the flat automatically gets transferred in Wife’s name.
There is a share certificate in the names of two persons. No 1 is husband No 2 is wife. Upon demise of No 1 the Society is required to follow provisions of Section 154B13 which reads as under:
On the death of a Member of a society, the society shall transfer share, right, title and interest in the property of the deceased Member in the society to a person or persons on the basis of testamentary documents or succession certificate or legal heirship certificate or document of family arrangement executed by the persons, who are entitled to inherit the property of the deceased Member or to a person duly nominated in accordance with the rules:
Provided that, society shall admit nominee as a provisional Member after the death of a Member till legal heir or heirs or a person who is entitled to the flat and shares in accordance with succession law or under will or testamentary document are admitted as Member in place of such deceased Member :
Provided further that, if no person has been so nominated, society shall admit such person as provisional Member as may appear to the Committee to be the heir or legal representative of the deceased Member in the manner as may be prescribed
Please note that the Rules referred to above are yet not made.
The Society can admit wife as Provisional member in accordance with proviso number 2.
