Free Indemnity Deed for Duplicate Share Cert

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DEED OF INDEMNITY FOR ISSUANCE OF DUPLICATE SHARE CERTIFICATE BY THE COOPERATIVE HOUSING SOCIETY

Lost your original share certificate from the cooperative housing society? Secure a duplicate effortlessly with our professionally drafted Deed of Indemnity for Issuance of Duplicate Share Certificate by the Cooperative Housing Society Format. This essential legal template protects both you and the society while complying with Indian cooperative laws.

What is a Deed of Indemnity for Issuance of Duplicate Share Certificate?

A Deed of Indemnity is a legal document executed by a member of a cooperative housing society when applying for a duplicate share certificate due to loss, damage, or destruction of the original. Under the Maharashtra Cooperative Societies Act, 1960 (or relevant state laws in India), societies require this indemnity to safeguard against potential future claims on the original certificate. It serves as a binding promise where the member indemnifies the society against any losses arising from issuing the duplicate.

This Deed of Indemnity Format for Duplicate Share Certificate is crucial for smooth transactions like property sales, loans, or membership transfers, ensuring legal compliance and risk mitigation.

Why is it Important?

In cooperative housing societies across India, share certificates represent ownership rights in the society's assets. Losing the original can halt critical processes. This deed is vital because:

It fulfills the society's statutory obligation before issuing duplicates.
Protects the society from fraudulent claims or disputes.
Ensures faster processing of your application, avoiding delays in legal or financial matters.
Meets court and regulatory requirements for authenticity.

Without a proper Deed of Indemnity for Issuance of Duplicate Share Certificate by the Cooperative Housing Society, your request may be rejected, leading to prolonged hassles.

Key Elements of the Deed of Indemnity Format

Our ready-to-use legal template includes all essential sections for completeness:

Parties Involved: Details of the member (indemnifier) and the cooperative housing society.
Recitals: Description of the lost/damaged share certificate, including certificate number, shares held, and circumstances of loss.
Indemnity Clause: Unconditional promise to compensate the society for any loss, claim, or liability.
Undertaking: Affirmation that no duplicates exist and waiver of rights to the original.
Witnesses and Execution: Signatures, dates, and witness details for legal validity.
Governing Law: Reference to Indian laws, typically the state cooperative societies act.

This customizable format is available in PDF and Word for easy editing.

Who Should Use It?

Cooperative Housing Society Members: In Mumbai, Pune, Delhi, or any Indian city with co-op societies facing lost certificates.
Homeowners/Sellers: During property transactions requiring clear title.
NRI Members: For remote handling of society affairs.
Legal Professionals: Drafting quick indemnity deeds.

Common use cases include accidents, theft, wear-and-tear, or misplaced documents during moves.

Download Your Deed of Indemnity Format Today!

Get instant access to our free download option or premium customizable versions. Tailor it to your society's bye-laws in minutes. Paid options include AI-generated customizations or lawyer-reviewed templates for India-specific compliance.

Important Note

While this Deed of Indemnity Sample for Duplicate Share Certificate is designed to be ready-to-use and legally sound, we recommend consulting a local lawyer or your society's secretary for personalization. It's not a substitute for professional legal advice. Explore related templates like Share Transfer Deed, No Objection Certificate (NOC), or Society Membership Agreement for all your housing society needs.

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DEED OF INDEMNITY FOR ISSUANCE OF DUPLICATE SHARE CERTIFICATE BY THE COOPERATIVE HOUSING SOCIETY

Non-Judicial

Deed of Indemnity for Issuance of Duplicate Share Certificate by
The Co-Operative Housing Society

THIS DEED OF INDEMNITY executed at ________, this _________ day of ______________ Two thousand and ____ BY ABC of ________, Indian Inhabitant, having address at __________________ ___________________, hereinafter called ?THE OBLIGOR? (which expression shall unless it be repugnant to the context or meaning thereof, mean and include his heirs, executors and administrators) of the One Part; And PQR CO-OPERATIVE HOUSING SOCIETY LTD., registered under The Maharashtra Co-operative Societies Act, 1960 under no. _________________, having address at _________________ ____________________________________, hereinafter called ?THE OBLIGEE?, of the Other Part:

W H E R E A S:

(a) The Obligor is seized and possessed of or otherwise well and sufficiently entitled to flat bearing no. ____ admeasuring ____________ sq. ft. carpet area on the 6th floor in the Building known as ?PQR APARTMENT? belonging to PQR
Co-operative Housing Society Ltd. situate at _____________ ____________________ (hereinafter referred to as ?the said Flat?).

(b) The Obligor is also the registered member and shareholder of PQR Co-operative Housing Society Limited and as such, is the registered holder and owner of 5 (five) shares of face value of Rs. 50/- (rupees fifty only) each, of the aggregate value of
Rs. 250/- (Rupees Two hundred fifty only) bearing Nos. _______ to _____ issued by the said Society (hereinafter referred to as ?the said Shares?) and bearing Certificate No. ____ incidental to the ownership of the said Flat.

(c) The OBLIGOR has lost the said original share certificate in respect of the said shares and has made an application to the Obligee, being the society, for issuance of the duplicate share certificate. The Obligor has represented to the Obligee that the said Original Certificate is not traceable inspite of diligent search by him. The Obligor has also represented to the Obligee that he has neither transferred his right, title and interest in the said shares to any one nor he has deposited the same with any person as security or otherwise.

(d) The Obligee has agreed to issue the duplicate certificate on the Obligor executing the present indemnity.

NOW THIS INDENTURE WITNESSETH THAT pursuant to the aforesaid, the OBLIGOR agrees to keep indemnified and hereby indemnifies and keep harmless the OBLIGEE including its members and their successors from and against any loss, damages, demand, action, dispute, claim, costs, charges and expenses of any nature suffered or sustained by the OBLIGEE on account of any person raising and/or establishing any claim to the said Original Share Certificate in any manner whatsoever and further the OBLIGOR covenants with the OBLIGEE to reimburse them for any such claim, cost, charges and expenses arising from the loss of original certificate.

IN WITNESS WHEREOF the OBLIGOR has put his hand on the day and year first hereinabove written.

SCHEDULE ABOVE REFERRED TO:

SIGNED AND DELIVERED by )

the within named ABC, )

the OBLIGOR above named, in )

the presence of ????????? )

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Important Guidelines

A Deed of Indemnity for Issuance of Duplicate Share Certificate by the Cooperative Housing Society is a legal document used in the context of cooperative housing societies. It is employed when a member has lost or misplaced their original share certificate and requires a duplicate to establish ownership. This deed indemnifies the society against any potential claims arising from the issuance of a duplicate certificate. Here are guidelines for drafting such a deed and

Common Mistakes to Avoid:

Parties and Society Details: Clearly identify the member seeking the duplicate certificate, the cooperative housing society, and provide details about the society's registration, location, and membership.

Indemnification Terms: Specify the terms of indemnity, including the member's responsibility to compensate the society for any future claims arising from the duplicate certificate.

Share Certificate Details: Include information about the lost share certificate, such as the certificate number, date of issue, and the number of shares.

Legal Language: Use precise legal language to minimize ambiguity or misinterpretation.

Signatures and Witnesses: Ensure that the deed is signed by the member and, if required, witnessed and notarized, in accordance with local laws.

Common Mistakes to Avoid:

Incomplete Information: Failing to provide complete and accurate details about the lost certificate, indemnification terms, or parties involved can lead to misunderstandings.

Ignoring Local Cooperative Laws: Neglecting to comply with local cooperative housing society laws and regulations can have legal consequences.

Unclear Terms: Using vague language or not clearly defining the indemnification terms can lead to disputes.

Lack of Legal Review: Not having the document reviewed by a qualified attorney may result in errors or omissions.

Notarization: Skipping notarization, if required, can make the deed legally invalid.

Drafting a Deed of Indemnity for Issuance of Duplicate Share Certificate is essential to protect the cooperative housing society and member's interests. Consulting with a qualified attorney experienced in cooperative housing society matters is crucial to avoid common pitfalls and maintain a legally sound indemnity agreement.

Frequently asked questions

What is a Deed of Indemnity for Issuance of Duplicate Share Certificate by the Cooperative Housing Society?→

This is a legal agreement used by members of cooperative housing societies in India to indemnify the society against losses when issuing a duplicate share certificate due to the original being lost or destroyed.

Is this Deed of Indemnity legally valid in India?→

Yes, this Deed is legally enforceable in India for cooperative housing societies under relevant state cooperative societies acts, provided it is duly stamped, executed, and notarized if required.

What stamp duty is applicable on this Deed of Indemnity in India?→

Stamp duty varies by state (e.g., Rs. 200-500 in Maharashtra); it is governed by the Indian Stamp Act. Verify with local authorities or a lawyer for the exact amount applicable to your state.

In what format can I download this Deed of Indemnity?→

Download this customizable legal agreement in editable Word or print-ready PDF format for immediate use.

Can I customize or edit this Deed of Indemnity template?→

Yes, this template is fully editable. Customize details like member names, society information, and certificate numbers to fit your specific needs in India.

Who should use this Deed of Indemnity and when?→

Cooperative housing society members in India should use it when applying for a duplicate share certificate after losing the original, to legally protect the society from future claims.