Society Member Share Transfer

Society Member Share Transfer

Share/Membership Transfer in a Society involves transferring the membership rights and obligations of an existing member to another eligible person as per the society's Bye-laws and the applicable Societies Registration Act. This process is common in cooperative housing societies, sports clubs, and welfare societies.

When is Membership Transfer Required?

• Sale or purchase of a flat or unit in a cooperative housing society.
• Inheritance of membership after the death of a member.
• Gift of membership within family members.
• Transfer of business premises membership in a commercial society.

Process

1. Transferor submits a written application to the society's managing committee for membership transfer.
2. Transferee submits an application for membership along with required documents.
3. Managing committee reviews both applications and passes a resolution approving the transfer.
4. Execute a transfer deed or nomination form as prescribed in the bye-laws.
5. Pay applicable transfer fees and charges to the society.
6. Update the Register of Members with the new member's details.
7. Issue a new membership certificate to the transferee.

Documents Required

• Transfer application by the existing member (transferor).
• Membership application by the incoming member (transferee).
• Original membership certificate of the transferor.
• PAN Card and Aadhaar Card of the new member.
• Managing committee resolution approving the transfer.
• No-dues certificate from the society for the transferor.
• Sale deed / gift deed / succession documents (as applicable).

Timeline

15–30 working days from managing committee approval.

Why Choose Tax Precision?

• Expert drafting of transfer application and deed as per bye-laws.
• Managing committee resolution drafting and documentation support.
• No-dues compliance check and stamp duty advisory.
• New membership certificate issuance documentation support.
• Guidance on RERA implications for housing society transfers.