• Apartment owners association

Hello

i have a building 
it has two shops and my residence.
i will be selling two shops one after another .
my questions are as follows

a) i am told i will require to form an apartment owners association and register it.
 within what time should i form it and register it after sale of the shops
b) any specific clauses to be put in sale deed regarding formation of apartment owners association 



thanks
Asked 12 days ago in Property Law
Religion: Other

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13 Answers

You have to form a cooperative housing society of all flat owners and shop owners 

 

2) flats are sold as per the Maharashtra Ownership Flats Act,1963 [MOFA] then it is the duty of the Builder / Developer to form society and hand over the Account + Documents to Provisional Working Committee [PWC]

Ajay Sethi
Advocate, Mumbai
95203 Answers
7607 Consultations

5.0 on 5.0

  • The association can be formed under the Maharashtra Apartment Ownership Act, (MAO) 1970.

  • is mandatory that 7 or more members who are above 18 years are required to form an association.
  • A memorandum of association with name and objects of association, details of members of governing body with name, address and occupation should be precisely given.
  • The Bye-laws (rules and regulation) of the association should be instructed to all.
  • A certain amount of fee has to be paid as the registration charges.
  •  The builder can register the association if all owners give power of attorney for forming an association.
  • The builder or the promoter submits the property to the purview of the MAO through the Deed of Declaration.
  • The builder sells the property (in parts) and has all the agreements registered.
  • The builder or the promoter conveys the respective parts of the properties & share of common areas to each purchaser through the Deed of Apartment.

Ajay Sethi
Advocate, Mumbai
95203 Answers
7607 Consultations

5.0 on 5.0

There is no such requirement of forming an apartment owners association for selling your shops

I am surprised somebody told you that 

Yusuf Rampurawala
Advocate, Mumbai
7559 Answers
79 Consultations

5.0 on 5.0

With 3 members you cannot form apartment owner’s association 

Ajay Sethi
Advocate, Mumbai
95203 Answers
7607 Consultations

5.0 on 5.0

Before sale no such formation of association is mandatory. 

Devajyoti Barman
Advocate, Kolkata
22920 Answers
498 Consultations

5.0 on 5.0

With 3 members you cannot register apartment association 

Ajay Sethi
Advocate, Mumbai
95203 Answers
7607 Consultations

5.0 on 5.0

If you are owning a flat and two shops in an apartments complex  and if there is no association functioning then it can be presumed that the builder has not handed over the complex to anyone, therefore you can gather the other owners of the complex and seven members can join together and form the association with the bylaws as per the housing society rules 

After that you can proceed with the sale of property observing the bylaws of the society besides the registration formalities.

T Kalaiselvan
Advocate, Vellore
85404 Answers
2236 Consultations

5.0 on 5.0

If you own the whole building then there is no necessity to form an association for the property owned just by three alone.

If your own house and the two shop are properly demarcated and registered individually then you can proceed with the sale of property independently.

 

T Kalaiselvan
Advocate, Vellore
85404 Answers
2236 Consultations

5.0 on 5.0

If there are only three owners then you cannot form an association, better do not listen to rumour mongers, instead proceed as decided by you.

T Kalaiselvan
Advocate, Vellore
85404 Answers
2236 Consultations

5.0 on 5.0

There is no necessity to form an association, you have been misguided about forming an association with only three members in the building.

Just ignore the misguidance in this regard

T Kalaiselvan
Advocate, Vellore
85404 Answers
2236 Consultations

5.0 on 5.0

Dear Clients,

a) Form a landlords association and register as soon as you sell the stores. There is usually no strict deadline, but it is best to do so early to ensure compliance with local laws and to maintain the property properly

b) Include specific information in the sales deed stating that: there is a need to form a building owners association. - It is the responsibility of all owners to participate in the association.

- A timetable for the formation of the association (e.g. within 30 days after the sale of the second store). Instead of just three owners, at least seven can form a partnership to oversee common areas and maintenance. Ideally, the formation of the association should be completed within 30 days after the sale of the stores to ensure proper management and asset management.

 

 

Anik Miu
Advocate, Bangalore
9191 Answers
111 Consultations

4.7 on 5.0

If your apartment or place fits into then provisions of apartment act then only you can form the same

Prashant Nayak
Advocate, Mumbai
32148 Answers
185 Consultations

4.1 on 5.0

- According to the Societies Registration Act , a Society may be formed by seven or more individuals.

- Since the said building having only one residential flat and two shops and no other owners occupying any portion of the building then an association cannot be formed individually. 

- Further, being the owner of the entire portion of the building , you have legal right to sell the shops without following the procedure of forming association. 

Mohammed Shahzad
Advocate, Delhi
13529 Answers
201 Consultations

5.0 on 5.0

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