transfer by gift deed
Elder brother is owner of a flat in a co-op.society in Kolkata (under W.B.Co-operative housing societies acts, Rules) . Elder brother wants to gift his flat to his younger brother( who is a nominee), by registered "GIFT DEED" . Please let us know whether and under which procedure/law, if any, the same can be done or not. N.B.- The society gave a rejection letter to elder brother stating-"section 76 of w.b. co-op. societies act 2006 provides that the share or interest of a member will be disposed of in favour of nominee on his death. As you are alive, neither you nor your nominee can claim for transfer of membership of the society by any kind whatsoever as it contradicts the provision of said act.".
A gift of immovable property amounts to its transfer under the Transfer of Property Act. Hence, through the gift deed the elder brother can gift the property to his younger brother by registered gift deed. The society can not reject your brother's claim of gifting the property to his younger brother through gift deed. Society's action contradicts the provision of transfer of property act.
Related IPC Sections
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