What is Share Certificate of flat?

A share certificate is a legal certification given by a housing society that a certain member is the registered owner of shares in the cooperative housing society. It is to be given to the member free of charge. … 50 per share and share certificates are thereof distributed to the members.

How do I get a flat share certificate?

You must have the conveyance deed from the builder and it should be in the possession of your housing society. Before the housing society can issue a share certificate, ensure that the property is free of encumbrances. Make sure all dues are paid and there is no lien.

Can flat be sold without share certificate?

In order to sell or transfer your flat in a smooth manner, you have to furnish No Objection Certificate (NOC) from the society. … Ensure to obtain a ‘No dues’ certificate from the housing society before selling it. You have to furnish the registered sale deed.

Is a share certificate proof of ownership?

A share certificate is a written document signed on behalf of a corporation that serves as legal proof of ownership of the number of shares indicated. A share certificate is also referred to as a stock certificate.

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What is the use of share certificate?

Share certificates fundamentally act as the receipt of purchase and indicate the ownership of stocks in a particular company. Share certificate confirms ownership that is registered and shows the date from which it is registered.

What if flat share certificate is lost?

File an FIR in the local police station stating that you have lost the original share certificate issued to you by the housing society. … You shall then submit an indemnity bond on a stamp paper of Rs 200 to the society agreeing to indemnify/cover all the costs it shall bear to issue a duplicate share certificate.

Who keeps original share certificates?

Such Blank Share Certificates shall be kept in the custody of the Secretary or such other person as the Board may authorize for the purpose. D. Time period for preservance of book relating to share certificate. All books relating to share certificates shall be preserved in good order not less than thirty years.

What is share certificate in property?

A share certificate is a legal certification given by a housing society that a certain member is the registered owner of shares in the cooperative housing society. … The member is issued 10 shares (worth Rs 500) as the total share capital need not be the same as the actual number of shares issued.

Is a share certificate a deed?

In the absence of additional specific wording that makes it clear on its face that it is intended to be a deed, a share certificate does not constitute a deed as defined in section 1(2) of the Law of Property (Miscellaneous Provisions) Act 1989.

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Can society deny share certificates?

Within 15 days of you submitting the file to the Society, if Society has not given you the Share certificate, then you write a reminder letter to the Society, asking it that in another 15 days (after reminder letter) if you don’t get the Share Certificate of your flat, then under Bye-law No.

Are share certificates still issued?

No new share certificates for listed companies will be issued from January 2023. … As a result of CREST, both electronic (“uncertificated”) and paper shares exist for listed UK companies. The existence of two types of shares can cause confusion and inefficiency, hence the desire to move to one type of share.

Who signs a share certificate?

A share certificate needs to be signed by:

Two company’s directors; or. A director and the company’s secretary; or. In the event that the company has no company’s secretary but single director then, the company director in the presence of an eyewitness who confirms to their signature.

How do you prove ownership of shares?

Ways to Prove Share Ownership

Share Certificates – As internal company documents share certificates are generally accepted by UK banks as proof of a shareholding in a company.

What happens to share certificate?

An investor is issued a share certificate, also known as a stock certificate, when they buy shares of a publicly-traded company. The share certificate serves as a receipt for the stock purchase. The certificate includes important details about the investor’s stock ownership such as the number of shares purchased.

How do I sell shares with a share certificate?

How to trade share certificates

  1. Place your online trade. You can trade shares in any UK company that Equiniti maintains the share register for. …
  2. Send share certificate & CREST Transfer form. Please send your share certificate(s) and a signed CREST Transfer form to finalise the sale. …
  3. Payment.
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How do I sell stock certificates?

You can cash them in through the transfer agent of the company with which the stock is owned. Or, you can work with a broker to sell the stock. Research the value of the stock to know whether you are holding on to fortune in cash or simply a pretty, collectible piece of paper.