Sir,I am a member of co operative housing society of n.a. plots in pune.
As per society,they don't need lease deed and surrender deed from a member.They just take housing federation approved membership and resignation forms for registering while change of ownership.
But the lenders organization for releasing loan for purchase of plot and house on it demand
1. Release deed of current owner and
2.lease deed of purchaser.
In current housing bye laws approved by Govt.of Maharashtra also has No mention need of suchlease deed and surrender deed.
Our society was formed in 80s,and have allotted plots on such forms as per then existing bye laws.
So.,my query is,
What is legal framework/law/act by which the lenders banks and organisations like HDFC,L&T etc.afe asking for such deed documents which involve lot of money.