The certificate a co-operative housing society issues to each member, showing their shares in the society and their flat. It is transferred to the buyer when the flat is sold.
How it works and what to check
In a co-operative housing society, common in Maharashtra and Gujarat, the society holds the building and land (after conveyance), and each flat owner is a member with shares. The share certificate is endorsed in the buyer's name after the society approves the transfer.
Check the original share certificate matches the seller and flat. If it is lost, the society issues a duplicate after following its bye-law procedure.
Common questions
Is a share certificate proof of ownership?
It shows society membership linked to the flat. Ownership of the flat comes from the registered deeds.
How is a share certificate transferred?
After registration, the buyer applies to the society with the deed and fee; the committee approves and endorses the certificate.