New member has purchased flat
8 months ago
1. New member has purchased flat with noc from builder before society registered, in soc registration documents builder mentions 1st buyers name, will the new buyer liable for transfer fee.
2.Corpus fund - Builder in sale agreement mentions about corpus fund to be paid, is that compulsory, can society take decision on it.
A.Dear Client,
As regards the payment of the Transfer fee, if there is a provision or condition alike in the Byelaws of the Society, then the new member has to pay the transfer fee. As regards contribution to the corpus fund, if the same is collected by the builder at the time of transfer of the flat in your name, then you need not to pay the society, but if it is not collected by the builder then you have to pay as per the provision of Byelaws of the Society. So, check your Sale Agreement and Deed of Sale if any such corpus fund is collected by the builder along with other expenses payable by the purchaser of the flat and react accordingly.
As regards the payment of the Transfer fee, if there is a provision or condition alike in the Byelaws of the Society, then the new member has to pay the transfer fee. As regards contribution to the corpus fund, if the same is collected by the builder at the time of transfer of the flat in your name, then you need not to pay the society, but if it is not collected by the builder then you have to pay as per the provision of Byelaws of the Society. So, check your Sale Agreement and Deed of Sale if any such corpus fund is collected by the builder along with other expenses payable by the purchaser of the flat and react accordingly.
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A.Dear client,
The members are required to pay the corpus fund. The corpus fund is a reserve fund maintained by the association to meet the expenses of any major repair or renovation work.
The members are required to pay the corpus fund. The corpus fund is a reserve fund maintained by the association to meet the expenses of any major repair or renovation work.
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