To have Clean and Clear Property Title ensure that the documentation is done in a proper manner

In cities like Mumbai, Thane, Navi-Mumbai, Pune etc., where the property prices have Sky rocketed, it is very important that you should examine the titles deeds of the property very carefully and the most important part is the drafting of Agreement of Sale & other documentation.

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Good News - 1% TDS on Property Sale, rolled back by Finance Minister

Initiating the debate on the Finance Bill for 2012-13 in the Lok Sabha, Finance Minister Pranab Mukherjee said the government had decided to roll back the proposed 1% tax deduction at source (TDS) on transfer of immovable property.

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Societies cannot refuse membership to those who are eligible

Adv. R. P. Rathod., throws light on the Laws and Procedures that govern transfers of Flat.

Transfer of membership in a society is common enough, but many times it gets entangled in disputes sometimes because the concerned parties have not completed the formalities, and at other times because of wrong interpretations of the laws and procedures says Adv. R. P. Rathod.

        Section 22 of the Maharashtra Co-operative Societies Act, 1960 lists the categories of persons who can be members of a society.

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Different modes of Transfer of Property

Conceptually, 'transfer of a property' means the transfer of rights, title, interest and capital of the immovable property. Transfer of flats can be affected by any one of the following modes:

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Admitting a New Member in a Society and the Society’s Rights & duties in this regards

A Chairman of a Housing Co-operative Society called me at 10:00 p.m. just to ask whether a Society has a Right to ask a member to settle all dues before he can be given permission to sell his ownership flat, just because the member was sitting on his head, citing his urgency in the matter said Adv. R. P. Rathod. Actually a member in their society has disputed a certain bill and had said that let the matter be decided by the Court of Law. Now the chairman wanted to know the Rights of the Society not to grant a No Objection Certificate, to a member to sell his flat.

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