TRANSFER OF INTEREST ON DEATH OF MEMBER

It Is Settled Principle Of Law That A Nomination To A Share Or Interest In A Co-Operative Society Is Meant To Provide An Arrangement Between The Death Of The Original Member And Full Administration Of The Estate. 

Maharashtra Co-Operative Societies Act S. 30 – Transfer Of Share Or Interest Of Deceased Member To A Nominee Or To An Heir Or Legal Representative Recognized By Society  Does Not Create Interest In Such Person To Exclusion Of Other Heirs – He Only Holds Share And Interest Of Deceased For Disposal Of The Same In Accordance With Law 

Section 30 Of The Maharashtra Co-Operative Societies Act, 1960 Reads :

On The Death Of A Member Of A Society, The Society Shall Transfer The Share Or Interest Of The Deceased Member To A Person Or Persons Nominated In Accordance With The Rules Or, If No Person Has Been So Nominated In Accordance With The Rules Or, If No Person Has Been So Nominated, To Such Person As May Appear To The Committee To Be The Heir Or Legal Representative Of The Deceased Member :

However What Is Important Is The Section And Not The Rules And Bye-Laws In As Much As The Rules And Bye-Laws Cannot Provide Anything Contrary To The Section. It Is Very Clear On The Plain Reading Of The Section That The Intention Of The Section Is To Provide For Who Has To Deal With The Society On The Death Of A Member And Not To Create A New Rule Of Succession. The Purpose Of The Nomination Is To Make Certain The Person With Whom The Society Has To Deal, And Not To Create Interest In The Nominee To The Exclusion Of Those Who In Law Will Be Entitled To The Estate. The Purpose Is To Avoid Confusion In Case There Are Disputes Between The Heirs And Legal Representation And To Avoid Uncertainties As To With Whom The Society Should Deal To Get Proper Discharge. Though In Law, The Society Has No Power To Determine As To Who Are Heirs Or Legal Representatives, With A View To Obviate Similar Difficulty And Confusion, The Section Confers On The Society To Determine Who Is The Heir Or Legal Representative Of A Deceased Member And Provides For Transfer Of The Shares And Interest Of The Deceased Member’s Property To Such Heir Or Legal Representative. Nevertheless, The Persons Entitled To The Estate Of The Deceased Do Not Lose Their Right To The Same. It Therefore Follows That The Provision For Transferring A Share And Interest To A Nominee Or To The Heir Or Legal Representative As Will Be Decided By The Society Is Only Meant To Provide For Interregnum Between The Death And The Full Administration Of The Estate And Not For The Purpose Of Conferring Any Permanent Right On Such A Person To A Property Forming Part Of The Estate Of The Deceased.  The Idea Of Having This Section Is To Provide For A Proper Discharge To The Society Without Involving The Society Into Unnecessary Litigation Which May Take Place As A Result Of Dispute Between The Heirs Or Uncertainty As To Who Are Legal Heirs Or Representatives. Even When A Person Is Nominated Or Even When A Person Is Recognized As An Heir Or A Legal Representative Of The Deceased Member, The Rights Of The Persons Who Are Entitled To The Estate Of The Interest Of The Deceased Member By Virtue Of Law Governing Succession Are Not Lost And The Nominee Or The Heir Or The Legal Representative Recognized By The Society, As The Case May Be Holds The Share And Interest Of The Deceased For Disposal Of The Same In Accordance With Law. It Is Only As Between The Society And The Nominee Or Heir Or Legal Representative That The Relationship Of The Society And Its Member Is Created And This Relationship Continues And Subsists Only Till The Estate Is Administered Either By The Person Entitled To Administer The Same Or By The Court Or The Rights Of The Heirs Or Persons Entitled To The Estate Are Decided In A Court Of Law. Therefore The Society Will Be Bound To Follow Such Decision.

According To  Advocate Madhuri Gaikwad(Legal  Support For Landguruz) She Feels A Legal Advisor Should Always Work To Ensure Safeguarding & Making The Mumbaikars UnderstandThe Legal Rights Of Redevelopment. She Feels If Adhered To Ethics By Members And Legal Aids

Then It Is The Victory & Respect To SATYAMEV JAYATEY.