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Can we sell our within one year of being a member of society?
12-Feb-2025 (In Property Law)
The house was originally purchased by my FIL in 1972, who passed away intestate in 1989, leaving behind three legal heirs i.e. my MIL, my husband and his sister (both minors). MIL became the subsequent owner (through a court affidavit). In 2018, my SIL and MIL, both transferred their shares to my husband. He changed his name in society records & share certificate in Jan 2025 & wants to sell it. Society is invoking sec 29 (2) of MSC, 1960 i.e.1 year membershipbefore he can sell & not signing NOC
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Adv. Kalpana Sanap
Pune | 200+ Answers
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As per Section 29(2) of the Maharashtra Cooperative Societies Act, 1960, a member must hold the property for at least one year before transferring it. Since your husband became the sole owner in January 2025, society can refuse an NOC until January 2026. However, as per RERA and MOFA, societies cannot unreasonably obstruct property sales. Your husband may challenge this refusal before the Deputy Registrar of Cooperative Societies or approach a cooperative court for redressal.
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Adv. Ranabir Datta
Pune | 100+ Answers
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yes you can sell the property . intending purchaser to get a membership certificate or share certificate from the society. As per rules made by the society, if you are not a member for a year society will not a lot of share certificate to the intending purchase. But your father in law and his joint family are the members of the society since the day of purchase. Then as per legal rights of the legal hair of the disease, you don't need to have wait for a one year membership
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Adv. Rahul Ramesh Joshi
Pandharpur | 25+ Answers
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Please reach out to me so that I can review the facts of your case thoroughly. I need to understand the details before providing any comments or suggestions. I will require more clarity on your situation.
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Adv. Ajinkya Sanjay Gosavi
VasaiVirar | 100+ Answers
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