What should be considered before signing the Condominium ?
3 years ago
1) Are the Clauses standard and common mostly across all Condominium clauses ? OR they can be made like any other Contract or agreement.
2) Are Condominiums under Maharashtra apartment ownership act 1970 ?
A.Hi,
1. There are standardized clauses, but you can make your own agreement if you so choose.
2. The sale will be governed by the Transfer of Property Act, but the responsibilities thereafter will be governed by the Apartment Ownership Act.
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1. There are standardized clauses, but you can make your own agreement if you so choose.
2. The sale will be governed by the Transfer of Property Act, but the responsibilities thereafter will be governed by the Apartment Ownership Act.
If you found this helpful, please rate us.
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Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
1. Yes, there are generally standard clauses governing the sale and transfer of immoveable property and apartments specifically. They can, however, be made as per your convenience; you are free to only incorporate those terms that you wish to have in the agreement.
2. The sale itself would be covered under the Transfer of Property Act, the responsibilities imposed thereafter would be governed by the Apartment Ownership Act.
If you found this helpful, please rate us.
1. Yes, there are generally standard clauses governing the sale and transfer of immoveable property and apartments specifically. They can, however, be made as per your convenience; you are free to only incorporate those terms that you wish to have in the agreement.
2. The sale itself would be covered under the Transfer of Property Act, the responsibilities imposed thereafter would be governed by the Apartment Ownership Act.
If you found this helpful, please rate us.
Helpful
Helpful
Share
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