Co-operative Housing Societies

A co-operative society is an association of persons coming together to share the common output of the lawful activities carried out with the intention of helping and supporting each other within such association.
The concept underlying a co-operative society is promotion of the spirit and essence of co-operation amongst its members in the areas envisaged by the law. Thus, a Co-operative Society which has its object the promotion of the economic interests or general welfare of its members, or of the public, in accordance with co-operative principles when registered  under the co-operative enactment assumes the status of a body corporate by the name under which it is registered, with perpetual succession and a common seal, and with power to acquire, hold and dispose of property, to enter into contracts, to institute and defend suits and other legal proceedings and to all such things as are necessary for the purpose for which it constituted.
A real estate law firm assists in the formation and registration of the co-operative housing society and is responsible for liaison and interaction with the Registrar of Co-operative Societies in carrying out the compliances under co-operative law.
By registration of Co-operative Housing Society a gigantic set of rights, obligations of its members, powers and functions of Governing Committee and many more legal issues, comes into existence which a lawyer has to address and advise upon.
A member holds a membership of a Co-operative Housing Society by virtue of owning a flat or shop or plot in the society and thus is vested with certain rights and liabilities under law.
Whenever a membership or share, in the form of flat or shop or plot, in the society is to be transferred by way of sale legal services are called for counseling upon the pre-transfer and post-transfer compliance under co-operative laws and bye-laws.