Nominee of Deceased Member is Absolutely Entitled for The Ownership by Transfer in Cooperative Society: Supreme Court
नामांकित व्यक्ति को फ्लैट ट्रांसफर होना चाहिए - कोर्ट The rights and position of a nominee has been of significant interest and debate for sometime now. There has been some ambiguity on legal rights of nominees vis-à-vis the legal heirs. Here we seek to give clarity on the fundamental principles of law pertaining to the rights of nominee members under the Maharashtra Co-operative Societies Act, 1960 (" the Act "). The Act requires a member to nominate a person/s to whom his share and interest in the co-operative society shall be transferred by the society in the event of such member’s death. The society is required to transfer the share or interest of the deceased member to such nominee(s), and if no such person is nominated, then, to the heir or legal representative of the deceased member. One of the pertinent legal questions that has been put to test time and again before various courts is whether the rights of nominees prevail over those of the successors/l...