Finance, Forex and Investments

can a husband be made ajoint member /coowner in aflat in coperatve housing society following model byelaws ?

the society was formed earlier by reseve bak employees, and wass mortaged to R:BI.I, as members were eployees of R.B.I, availed of Bank loan. now bank loan is repaid. can the husband off rbi employee ask housibg society to be made joint owner in the said flat. society says only one person can hold a flat not 2 people therefore refuse to make the husband a joint owner,also husband before marriage had conntributed 50 % of cost of flat, but society refused to make him joint owner thatonly rbi employees can be made joint owner and the whole building was mortgaed to reserve bank of India. now the ldg is old, free from mortgage , loan paid off, and still secretary of housing society refguses to make husband the joint owner in the said flat or co owner . how do i rsolve this problem. i seek aquick solution to this problem.

Public Comments

1. call for the general body meeting of the housing society by explaining the facts. this issues will crop up for others also in future. so every one will certainly co-operate.
2. An individual who is eligible to be an Associate Member & who has made an application in the prescribed form u/s 21 for Associate Membership along with entrance fee of Rs 100/- shall be admitted as Associate Member by the committee. An Associate Member has to hold the shares of the society jointly with the original member, whose name stands 1st in the share certificate, & the name of the Associate Member shall stand 2nd in the share certificate. Associate Member has no rights or privileges of a Member, except attending GBM of the society & voting, provided that original Member is absent. Associate Member may contest the election on the basis of authority given by the original Member. Kindly check Appendix-7 of the bye-laws of co-op soc. As for making you a co-owner, the society has nothing to do with it. your wife can make a Release Deed. Release is also specie of transfer of property. A Release in fact may amount to a conveyance or a gift or an exchange. If a person releases his vested right or interest in a property without consideration but only for natural love and affection it will amount to a gift. The description release is applied when the transfer is not of the whole property but only of an interest in it and that to in favour of another who is also interested in the property and he is not a stranger. You will have to see an advocate.