(Buyer)
The Apartment Ownership Act provides for the ownership of an individual apartment in a multi-storeyed building along with the ownership of an undivided interest in the common areas and facilities belonging to the building. It also outlines provisions related to the heritability and transferability of individual apartments.
'Apartment' refers to a part of a multi-storeyed building which may be used as a residence, or in some cases, as an office space or a space for carrying out certain occupations.
CHAPTER II- Ownership, Heritability and Transferability of Apartments
Section 4- Ownership of Apartments
Section 5- Apartment to be heritable and transferable
Section 6- Ownership of apartment subject to conditions
Section 7- Compliance with the covenants and bye-laws
Section 10- Benamidar of the apartment to be deemed to be the real owner
Section 11- Certain works prohibited
Section 12- Encumbrances against apartments
Section 13- Contents of Deed of Apartment
CHAPTER III- Deed of Apartment and Its Registration
Section 14- Registration of Deed of Apartment
Section 15- Association of Apartment Owners and bye-laws relating thereto
CHAPTER IV- Association of Apartment Owners and Bye Laws for The Regulation of the Affairs of Such Association
Section 17- Disposition of property, destruction or damage
CHAPTER V- Common Profits, Common Expenses and Other Matters
Section 19- Common profits, common expenses and other matters
Section 21 Common expenses to be a charge on the apartment
Section 22 Separate assessments
Section 23-Joint and several liability of vendor, etc., for unpaid common expenses.
Section 25- Power to exempt stamp duty, registration fee and court fees and power to refund
CHAPTER VI- Miscellaneous