Housing Society Share Certificate Format: How To Change Name In Certificate?

People are searching for housing society share certificate format online and more. In this blog we have solved almost every problem regarding change of name in housing society share certificate, format, etc. There are so many people who don’t know how they can change name by sitting home.

You don’t have to worry, we are here to help you. This article explains how to change the name on your Housing Society certificate.

Societies have to issue a housing society share certificate to all its members. Generally, societies try to follow all the rules and regulations properly, but some societies still need to learn that they have to issue a certificate to their residents. A housing society share certificate must be issued during the time of purchase and resale.

What is a housing society share certificate?

A housing society issues a housing society share certificate to say that a particular number of shares have been transferred to that specific person. The issue of a housing society share certificate has to be done free of cost.

The recipient of the certificate does not have to pay any additional charge to acquire this. A housing society share certificate format must contain the name of the owner, the number of shares purchased, and the amount paid for them. All the members should get the certificates within six months of the share distribution.

Why are housing share certificates required?

Whenever someone buys a house in a society, they sign a sale deed. This sale deed is the legal proof that the property has been officially transferred to their name.

The housing share certificate confirms that you are the rightful owner of those shares. The managing committee of the housing society issues the certificate. At the time of resale, the new share certificate has to be given to the new owner. The transfer of shares or property must be completed within a month.

Checklist for issuing the housing society share certificate

When distributing the share certificates, the following things must be considered:

A member whose name appears on the share certificate must collect the certificate. No one else has the authority to collect it on their behalf.
The member’s property should be clear of all lieu.
The society should have the conveyance deed issued by the builder of the society.
The housing society share certificate can be legalized only if it has the society’s seal. It has to be signed by the chairman of the society, along with the secretary and one member of the society.
The secretary must obtain authorization from the housing committee before issuing the share certificate.
The name and order of the names should appear the same as it is on the sale agreement.
While collecting the housing society share certificate, one has to submit the original sale agreement.

Transfer of housing society share certificate at times of resale

If you wish to sell your house to another owner, you would have to transfer your housing society share certificate to their name as well. When you transfer the share certificate, you have to make sure that all the documents are submitted, the housing society share certificate format is correct and all paperwork is completed on time. It is the responsibility of the new owner to pay all the transfer premiums and ensure that the previous owner has paid all their dues.

After having completed all the new share certificate application procedures, the old certificate has to be submitted to the housing society committee. Upon the death of the original house member, the heirs must apply for a share certificate within six months. Only after doing so, they can issue the new share certificate for their house.

If the new member has completed has completed all the procedures and paperwork, and the society committee fails to provide them with the new certificate, they can file a complaint against the committee.

Housing Society Share Certificate Format: Request Letter

In order to get a housing society share certificate, write a letter to the housing society committee in the given format.

To,

The Managing Committee,

Your name,

Address.

Date… ( in dd/mm/yyyy format)

Subject: Request for share certificate

Respected sir/mam,

Start with your name and your residential address.

Ask for the share certificate while mentioning the date of purchase and the number of shares.

End with a thank you note.

Write the letter in a straightforward and respectful manner.

Thanking you,

Your signature,

Your name,

Your contact number.

Procedure to Change of name in Housing Society Share Certificate

Name change procedure in housing society share certificate

The name change procedure for the housing society share certificate is a very simple and quick process. Since the committee issues the housing society share certificate, they must already have all the deed-related documents with them.

The owner of the housing society share certificate has to provide the society committee an affidavit that states the new name, old name, and the reason for the name change procedure for the housing society share certificate. This affidavit must have the signatures of the owner of the share certificate and the secretary of the housing committee.

It is the housing society committee’s responsibility to work alongside the owner of the shares in the name change process. There are a few documents that are to be submitted to the Government office to proceed with the name change procedure in the housing society share certificate. The documents are:

The original housing society share certificate.
The affidavit. This document must state the cause for the name change clearly.
The bond seal which has a list of all the members who currently own the total number of shares of the housing society.
A letter that mentions the name change procedure request in clear words. The letter must not contain heavy language but must be written in simple and professional language.

Housing Society Share Certificate Format For The Name Change Procedure

Date…

Authority name…

…Housing society

Address…

Subject: Request for name change in housing society share certificate

Respected sir/mam,

Write in a simple short paragraph the reason for your name change procedure in the housing society share certificate.

This letter must contain the date of receiving the housing society share certificate.

End with a respectful and grateful sentence.

Thanking you,

Your name…

Address…

Contact no. and signature…

Gazette publication and advertisement in the newspaper

After having applied for the name change procedure, apply for Gazette publication by sending the affidavit and other necessary documents. To get a Gazette, one must advertise in the newspaper that they have legally changed their name in the housing society share certificate.

The owner of the housing society share certificate has to publish the official name change announcement in two newspapers. First, in the local newspaper of the state they live in and second, in the local English newspaper.

The newspaper advertisement must contain the new name of the owner, the old name of the owner, the date of the original share certificate issuance, the date when the name change process was finalized, the name of their housing society, and the address.

Keep as many original copies of the advertisement as you can. Though for official Gazette publication, only one copy is required, they can come in handy in the future. Make sure to follow the professional language and simple format for the advertisement. Newspapers usually have a fixed column for such publications, and the publication company can guide you in the right direction.

The Gazette publication is the way to legalize the name change procedure in the housing society share certificate. To get an official Gazette, one needs to submit their original application and the newspaper advertisement. The Government body will check the documents and, within two months, issue a new Gazette.

Issuing a housing society duplicate share certificate

You must apply for a duplicate housing society share certificate if you have lost your original. It is advised to maintain your actual housing society share certificate because applying for a duplicate one is not an easy task.

You can follow the given steps in order to apply for a duplicate share certificate if the original one has been soiled, misplaced, damaged, stolen, or lost.

You can file an FIR at the nearest police station if the original share certificate is lost, stolen, or misplaced. Keep the copy of the FIR safely with you.
Send a formal letter to the housing society committee informing them about the misplacement of damage to the original housing society share certificate. Attach the FIR copy with the letter.
The owner of the share certificate has to attach the indemnity bond along with the FIR copy. Pay an amount of Rs. 200 to the housing committee in case they need to spend some money while issuing a duplicate of the housing society share certificate.
The application is then presented to the housing committee. The committee reviews all the documents and any supporting documents during the meeting time. If everything looks okay, they will proceed with the issuance process.
Next, it is the job of the housing society committee to put up a notice on the society notice board regarding the issuance of the duplicate housing society share certificate. They will also put a note in the newspaper regarding the same.
The society has to wait for 15 days after the notice board and newspaper notice. If no one raises an objection to the notice, they proceed with the issuance of the duplicate housing society share certificate.
The applicant is then provided with the duplicate housing society share certificate. It is the applicant’s responsibility to cover any financial expenses paid by the society committee.

A Summary Guide to Change of name in Housing Society Share Certificate

If you own a flat in a co-operative housing society, your name must be listed on the share certificate for the flat. If you change your name, you will need to change the name in the society share certificate as well. To change your name on the share certificate, you will need to apply to the society’s managing committee.

The transfer of share must be completed by issuing a new share certificate in the new name. This process is important because the share certificate is an important legal document and holds value for the flat.

To begin the process, you will need to fill out an application to the society, as well as an indemnity bond for Rs 200. You will also need to pay the stamp duty for the transfer of shares. If the transfer of shares is a result of a resale, you will also need to pay the transfer premium.

If the society refuses to issue the share certificate in your new name, you can request for a duplicate share certificate to be issued in your new name. To do this, you will need to file an FIR with the local police station, as well as provide notices in two local newspapers. The member will bear the cost for this, and an indemnity bond of Rs 200 will be required.

In the case of a gift deed, the transfer of shares must also be completed. An application, a copy of the sale deed, and the notarised gift deed will be required to be submitted. The stamp duty for the gift deed will need to be paid, and a period of one month will need to pass before the new share certificate shall be issued.

It is important to ensure that the previous owner clears all dues of the flat, and that all paperwork and necessary requirements pertaining to the transfer of shares must be completed on time. The society issues a specific number of shares to every member for the shares subscribed. The share capital is divided per share, and the transfer of shares must be authorised by the committee.

In the event of the death of the original holder of the shares, the order of names in the share certificate must be changed. This can be done by filing an application to the society, along with a copy of the FIR and the death certificate. The managing committee of the society will then issue the new share certificate.

Conclusion

In conclusion, the housing society share certificate is an important document that lists the owner of the flat and the value of the flat. Changing the name on the share certificate involves a number of steps, including paying the necessary fees and ensuring that all paperwork is completed on time. It is important to work with the society’s managing committee to ensure that the process is completed smoothly and legally.

FAQ Related To Housing Society Share Certificate Format

What happens if someone raises objections to the issuance of a duplicate share certificate?

Issuance of a duplicate housing society share certificate is not as easy as getting an original share certificate. Usually, no one raises objections to the issuance of the duplicate share certificate, but if someone has a valid reason to do so, they can raise objections. If objections are raised, then the matter is taken to the court and resolved as per the decision of the judge.

What is a conveyance deed?

A conveyance deed is a legal document that gives ownership to the person buying the shares. This deed allows the builder to transfer the ownership of the shares to the cooperative housing society.

What happens if the society fails to provide the share certificate?

If the housing society fails to provide the share certificate in the given time, the owner can file a case against the housing society. This is applicable only if the owner has paid all the dues.

When does a society issue a share certificate?

After verification of all the submitted documents, the society has to issue the housing society share certificate within six months from the date of share allotment.