Short Answer

No, the society does not automatically update its records when ownership of a flat changes.

Detailed Explanation

Section 29 of the Gujarat Cooperative Societies Act, 1961 mandates that any change in the ownership of a flat must be intimated to the society by the member or the transferee within a specified period. This means that it is the responsibility of the member or the transferee to inform the society about any change in ownership.

In practice, when ownership of a flat changes, the new owner or transferee must submit the necessary documents and information to the society for updating their records. This ensures that the society maintains accurate and up-to-date records of its members and their respective flats.

Real-world Scenarios

• Mr. Patel sells his flat to Mr. Shah. As per Section 29 of the Act, Mr. Shah must inform the society about the change in ownership by submitting the required documents such as sale deed, NOC, and membership transfer form.

• In case of inheritance, if a flat owner passes away and the flat is inherited by their legal heirs, the legal heirs must intimate the society about the change in ownership and provide the necessary documents for record update.

• If a flat is transferred through gift or any other means, the new owner must comply with the provisions of Section 29 and inform the society accordingly.

Reference

• Section 29 of the Gujarat Cooperative Societies Act, 1961: Official PDF