Transfer of Shares and interest in Housing Society

Transfer of Shares and interest in the Capital/Property of the Society -Bye Law 38

a. A Member, desiring to transfer his shares and interest in the capital/property of the Society shall give 15 days' notice of his intention to do so to the Secretary of the Society in the prescribed form, along with the consent of the proposed transferee in the prescribed form.

b. On receipt of such notice, the Secretary of the Society shall place the same before the meeting of the Committee, held next after the receipt of the notice, pointing out whether the Member is prima-fascia eligible to transfer his shares and interest in the capital/property of the Society, in view of the provisions of Section 29(2)(a) of the Act.

c. In the event of ineligibility (in view of the provisions of section 29(2)(a) & (b) of the act) of the Member to transfer his shares and interest in the capital/property of the Society, the Committee shall direct the Secretary of the Society to inform the Member accordingly within 8 days of the decision
of the Committee.

d. No Objection Certificate" of the Society is not required to transfer the shares and interest of the transferor to transferee. However in case such a certificate is required by the transferor or transferee, he shall apply to the Society and Committee of the Society may consider such application
 on merit, within one month.

FLAT TRANSFER DOCUMENT CHECK LIST

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.