Share Certificate Transfer When You Buy a Resale Flat in a Mumbai Society

In a cooperative housing society, buying the flat isn't the last step. You also need membership and the share certificate in your name. The process, documents and common delays.

Forms with a pen and coffee mug on a desk

In a Maharashtra cooperative housing society, the flat comes with shares in the society. When you buy a resale flat, the seller's shares and membership need to move to you. Until they do, you aren't a member, and that affects voting, nominations and any future sale.

The usual process

The seller applies to resign membership and transfer shares.
The buyer applies for membership, using the society's forms under its bye-laws.
The buyer submits the registered sale agreement and other documents.
The society checks dues, collects the transfer fee and premium if applicable.
The committee approves, and the share certificate is endorsed in the buyer's name.

Documents usually needed

Registered sale agreement and Index II
The original share certificate
Membership and transfer application forms
Society NOC for the sale, if your society issues one
ID and address proof
Nomination form

The sale isn't fully finished until the share certificate carries your name.

Fees and limits

Societies charge a transfer fee and sometimes a premium. These are limited by the rules for cooperative housing societies in Maharashtra. Our post on society transfer fee limits explains what can be charged.

Common delays

Unpaid maintenance or arrears on the seller's account
A missing original share certificate (a duplicate needs a separate process)
Incomplete forms or missing signatures
Committees meeting infrequently

If the society delays

The model bye-laws set time limits for the society to decide membership applications. If your society doesn't act, write to the committee, and if needed, approach the Deputy Registrar of Cooperative Societies.

Don't forget the nomination

File a nomination with the society once you're a member. See nominee vs legal heir.

Frequently asked questions

Do I need the share certificate if I have the sale agreement?

Yes. The sale agreement transfers the flat. The share certificate shows your society membership.

What if the original share certificate is lost?

The society can issue a duplicate following its procedure, which usually involves an application, indemnity and a public notice.

Related reading

General information, not legal advice.

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