Nominee is only trustee for legal heirs 

nominee cannot sell the flat without consent of legal heirs of deceased 

Flat will be transferred  to the nominee. Nominee cannot sell the flat without the consent of you children as they are beneficiaries. Both are entitled to equal share in the proceeds of sale. Nominee is bound to distribute the proceeds to the children.  

- As per Co-operative Societies Act, A member can nominate a person or persons to whom his share and interest in the co-operative society will be transferred by the society in the event of his death.

- Further, A member would cease to be a member of a society on death. However, his holding and other interests do not lapse, but they pass on to his heirs or legal representatives. 

- Further, the society is bound to transfer the share or interest of the deceased member to a person/s nominated, and if no such person is nominated then the committee of the society shall transfer it to such person as may appear to the committee to be the heir or legal representative of the deceased member.

- And further, the purpose of nomination is to make clear the person with whom the society has to deal upon the death of a member, and It does not create any interest in favour of the nominee, to the exclusion of those who are in law entitled to the estate of a deceased member.

- Further, the said nominee does not become the absolute owner of the property, and he is only empowered to hold the property in trust for the real owners for the purpose of dealings with the society, and further he has no power, authority or title to alienate the property to the exclusion of the other legal heirs of the deceased member.

- Hence,  after your demise the apartment will go the beneficiaries i.e. two children , and nominee will have no right over the same .

There is no time limit for nominee to sell the flat. Intimation of the right of beneficiaries to receive sell proceeds should be given to society through a notice so as and when the flat is being sold the beneficiaries can assert their rights.

1. Where have you mentioned your children as the beneficiaries of your flat?

2. You have mentioned your sister as the nominee in the documents signed with the Society for which she will be entitled to have possession of the said flat after your demise in absence of any will executed by you in favour of your children.

3. Nominee is the trusty of the flat and will not be able to sell the property of minors without the leave of the local District Judge.

Nominee has to hold the flat as a trustee for the legal heirs of the owner

Nominee cannot sell the flat 

The society will transfer the flat in favour of the nominee but that does not mean that the nominee becomes the owner 

Any buyer will not purchase the flat unless the NOC of the legal heirs of the owner is in place and the nominee is granted the authority to sell the flat 

1. Have you mentioned your children as beneficiaries in your will?

2. Despite your having executed the will, then nominee can  refuse to sell the flat and continue to hold its possession and/or stay therein.

3 If you execute a POA in favour of the nominee authorising her to sell the flat during your lifetime and get the sale proceeds directly paid by the buyer to  your children equally, then the nominee won't be able to lay her hand on the sales proceed. 

There is no time limit for sale of flat 

If nominee does not sell the property the beneficiaries can file suit to claim share in property 

Dear Sir/Madam

A. ROLE OF NOMINEE

1. Since your apartment is in Bombay, it is governed by Maharashtra Cooperative Societies Act, 1960.

2. Upon your death, the society shall transfer the share or interest of the deceased member to a person nominated in accordance with the rules.

3. Nomination simply clarifies with whom the society has to deal upon death of a member. Nominee does not become the absolute owner of the property.

4. Nominee only holds the property in trust for the real owners for the purpose of dealings with the society. 

5. Nominee cannot alienate property to the exclusion of legal heirs of the deceased member. 

B. PROCEDURE AFTER DEATH OF THE OWNER

1. Upon your death, the society shall transfer your apartment to the nominee. 

2. The nominee shall hold the flat/unit in trust until all the heirs are brought on record and shall not have the right to ownership and shall not create any third-party interest.

3. The nominee cannot sell the apartment. 

4. I suggest you draft a will to make clear your intention on who shall be the beneficiary of the apartment and clear out your intention on what you want with the apartment, whether it be sold or not. 

Thank you

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Dear Concerned,

In this matter, the Nominee will be the administrative authority after your life term. The beneficiaries would be the Children. In case the nominee wants to sell the property then a proper court order needs to be obtained from the court where the sale is allowed and the nominee is declared as the Legal guardian and he/she shall utilize the consideration only for the welfare of the children.

Thanks 

-   Nominee is only trustee. 

-   Nominee will get possession but can not sell it on its own use. 

-   No time limit to sell flat. the beneficiaries will get the sale proceeds whenever it will happen. 

-   The beneficiaries can claim legal rights incase of any eventuality through lawyer. 

According to law, a nominee is a trustee or caretaker of the assets. He/she is not the owner but an individual who will be legally bound to transfer the asset to the legal heirs

 nominee is for interim management only and should be interpreted as to have temporary controlling rights

According to law, a nominee is a trustee or caretaker of the assets. He/she is not the owner but an individual who will be legally bound to transfer the asset to the legal heirs.

No rights of the nominees will prevail over that of the successors/legl heirs of the deceased owner. 

Nomination is a temporary arrangement, so that the shares of the deceased do not remain owner less, during the period that succession issues are resolved.

According to law, a nominee is a trustee or caretaker of the assets. He/she is not the owner but an individual who will be legally bound to transfer the asset to the legal heirs.

 nominee is for interim management only and should be interpreted as to have temporary controlling rights.

If the nominee is selling the  property then he would be liable for criminal consequences besides civil case for recovery of possession  by cancelling the sale deed.

The rights of the nominees will not prevail over that of the successors. The Bombay High Court has also observed that in all cases, the provisions relating to nominations have been consistently interpreted as only giving a temporary controlling right to the nominees, for interim management of the affairs relating to such instrument.

Nominee can't sell the flat unless he is the only legal heir. Nomination is not ownership of property

1. Nominee is the trustee of legal heirs who is under a duty to ensure that property is divided between legal heirs according to the law.

2. Nominee cannot sell the flat unless the legal heirs or owner transfers the title to him or executes GPA to authorise him to sell it.

3. In case of sale by heirs the nominee's duty will be to divide the sale proceed between heirs.

After owner the flat will get transferred on nominee's name and beneficiaries. If you both children can challenge your elder sister as owner, because you had mentioned her as nominee.

and the property will get transferred according to Legal Heirs certificate.

Nominee is a custodian and she will receive the property only to handover the property to your legal heirs. The legal heirs have a right to the share of the property.

You should write a final will and testament stating the specifics of the immovable and movable property and how you intend to distribute/dispose the same.

The nomine has to abide by your instructions.