Transfer Share Certificate News Today : Breaking News, Live Updates & Top Stories | Vimarsana

When a cooperative housing society (CHS) opts for structural repairs or external repainting of their building, they can choose to utilise the funds collected under the repair fund in the monthly maintenance bill. However, if the expenses are estimated to be higher than the accumulated repair funds, the Society is permitted to divide the additional charges proportional to the area of each flat.

Cooperative housing societies (CHS) are often stringent about keeping accurate records and paperwork. The managing committees (MCs) of CHS have the key responsibility of ensuring that all the proof of sale towards the property is rightfully issued and kept on record. A share certificate, like the sale deed, is proof that the property's rightful owner must possess.