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Is NOC mandatory for registration?- Property Hotline
Posted
August 31, 2016
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August 31, 2016
7,190
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3:22Now PlayingExpert: Vinay Singh, Legal & Tax Expert.
Question: My father-in-law selected my husband as the nominee of his property in 2004. The documents and rent are in my husband's name. The society wants an NOC from my sister-in-law for registration. Is it compulsory?
Answer: The Society cannot ask for NOC of any sort. Section 30 of the MCS Act specifies that it is mandatory for a society to transfer the shares to the nominee. The nominee must apply in the form given in Appendix 15 with Rs100/- as entrance fees and undertaking in Appendix 3 to use the flat for the purpose it is allotted. The original share certificate must be submitted for endorsement. Indemnity bond is necessary only if there are multiple nominees in Appendix 18.
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