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Is share certificate required from society to transfer ownership
04-Jul-2023 (In Property Law)
To hold an apartment, other than Sale Deed and Agreement to Sell, is there a requirement to hold Share Certificate in kerala for the undivided share or undivided interest ?
The question is not clear. In the case of an apartment, the undivided share details will be there in the title deed itself. For sale, usually the buyer insist for, Title deed, prior deeds, possession certificate, land tax receipt, property tax receipt and encumbrance certificate. Location sketch is not necessary in case of apartment. Plus, mutation has to be done in the name of the owner i.e. the name in the village records must be changed in the name of the owner after the purchase.
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Adv. Nelson Joseph
Kochi | 100+ Answers
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The question of share certificate arises only if the apartment owners have constituted themselves into a Cooperative Housing Society. Kerala does not appear to have a Housing Cooperative Societies Act as in Maharashtra. However, the apartment could be registered in terms of the Kerala Apartment Owners Act, 1983.
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Adv. P Venu
Vaikom | 500+ Answers
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