Procedure and Documentation for Transfer of Shares in a Housing Society from Deceased Donor to Donee (Gift Deed Scenario):

In the case where a Gift Deed was executed by the donor (father/mother) during her lifetime, and the donor has now passed away, the donee (son/daughter) must submit certain documents to the society for the change of name in the Share Certificate. This ensures a smooth and legally compliant transfer. Below is the list of required documents and the process:

Documents Required for Change of Name  
 

1. Application for Transfer:  
   - A written application from the donee (son/daughter) to the society requesting the transfer of shares and update of the Share Certificate in his name.
2. Certified Copy of the Gift Deed:  
   - A legally valid, registered Gift Deed clearly indicating the transfer of ownership from the father/mother to the son/daughter.
3. Death Certificate of the Donor (Father/Mother): 
   - A certified copy of the father's/mother’s death certificate as proof of her passing.
4. Indemnity Bond:  
   - An indemnity bond executed by the donee, indemnifying the society against any claims from third parties or other legal heirs.
5. No Objection Certificate (NOC) (if applicable):  
   - If there are other legal heirs, obtaining an NOC from them can avoid future disputes. While this is not mandatory due to the existence of the Gift Deed, it adds an extra layer of precaution.
6. Copy of Share Certificate:  
   - The original Share Certificate should be submitted for endorsement with the new name.
7. Proof of Identity and Address of the Donee (Son/Daughter):  
   - A copy of the son’s/daughter's Aadhaar card, PAN card, or any other government-issued ID for verification purposes.
8. Membership Application Form:  
   - As per the society’s bye-laws, the donee must apply for membership using the prescribed form (usually Form 20 or similar).
9. Transfer Fees: 
   - Payment of the applicable transfer fee, as stipulated in the society's by-laws.
10. Affidavit or Declaration:  
    - An affidavit stating that the Gift Deed was executed during the mother’s lifetime and the donee is now the rightful owner.
11. Form for Nomination (Optional):  
    - The donee may also submit a fresh nomination form to nominate a person for future succession.

Process for Transfer  

1. Submission of Documents:  
   - Submit all required documents to the society office.
2. Verification by the Society:  
   - The society will verify the authenticity of the Gift Deed and other submitted documents.
3. Resolution in the Managing Committee:  
   - The society's Managing Committee must pass a resolution to approve the transfer of shares.
4. Endorsement on Share Certificate: 
   - Upon approval, the society will endorse the son’s/daughter's name on the Share Certificate and update its records accordingly.
5. Intimation to the Registrar:  
   - If required, the society must inform the Registrar of Cooperative Societies about the transfer.  
   
   Relevant Legal Provisions  
   - Model Bye-Law No. 38: Governs the procedure for transferring shares.  
   - Section 30 of the MCS Act, 1960: Recognizes the validity of gift deeds and succession-related matters.
   
   This process ensures a lawful and smooth transfer of ownership while safeguarding the society from potential disputes.
    

Procedure and Documentation for Transfer of Shares in a Housing Society from Deceased Donor to Donee