Flat transfer / sale सदनिका हस्तांतरण / विक्री • फ्लैट हस्तांतरण / बिक्री
5 related bye-laws. Tap any one to read its summary.
Bye-law No. 37: Transfer of flat / shares
The selling member gives 15 days' notice with the buyer's consent. No NOC of the Society is required for transfer. Documents: transfer application with share certificate, buyer's membership application, seller's resignation, registered and stamped agreement, undertaking to clear dues. Transfer fee Rs. 500, entrance fee Rs. 100, and premium within the Government circular limit as fixed by the general body. No donation or other amount may be demanded. No premium on transfers within family, to nominee/heir, or exchange of flats.
Bye-law No. 38: Disposal of transfer applications and deemed membership
Transfer applications follow bye-law 62. They cannot be refused except for non-compliance with the Act, Rules or Bye-laws. If no decision is communicated within 3 months, the transfer is deemed approved and the buyer a member (Section 22(2)). Transfers in contravention are void against the Society.
Bye-law No. 39: Rights of the transferee
The buyer may exercise membership rights on receiving the Society's letter in the prescribed form or the Registrar's order under Section 22/23.
Bye-law No. 7: Ways of raising funds
Funds may be raised by entrance fees, shares, loans and subsidies, deposits, voluntary donations (but not from transferor or transferee), transfer fees, premium, corpus from the builder, non-occupancy charges, leasing of open spaces and corpus in redevelopment.
Bye-law No. 12: Reserve Fund
All entrance fees, transfer fees, premium, the statutory share of net profit and donations not for a specific purpose are credited to the Reserve Fund when accounts are finalised.