The law i.e. the Uttar Pradesh Apartment (promotion of construction ownership and Maintenance) Act 2010 mandates that it shall be the joint responsibility of the builder/ promoter and the apartment owners to form the association, however, in practice the builders are most reluctant to form an association of apartment owners as same will take away the right to manage the common areas and facilities and money collected for that. Under such circumstances when the builder is not forming the association of apartment owners then the buyer can form the AOA on their own. The article has a youtube video presentation.
Can Second Co-Owner Vote & Contest in Elections of AOA?
A co-owner has right to cast vote and contest for the post in the board of management if remaining co-owner(s) have no objection, either expressly or impliedly. It is immaterial whether the name of the co-owners is mentioned at first, second or at any serial in the list of owners in the conveyance deed.
The amount of interest is compensation to the beneficiary.
he Section 71 of the Real Estate (Regulation & Development) Act 2016 empowers only the adjudicating officers to award compensation. As per the rulings of the Hon’ble Supreme Court, interest and damages is also compensation. Hence, those complaints which are filed under section 31 of the RERA Act, 2016 demanding refund plus interest should only be adjudicated by the Adjudicating Officers and not by the Chairperson and members of the RERA. The refund plus interest orders passed by the RERA so far are without jurisdiction hence, null and void.
The right to form an Association is conditioned by recognition by the Government
Constitution Bench of Supreme Court of India in Smt. Damyanti Naranga Vs. The Union of India […]
Fiduciary Relationship in Real Estate Transactions.
When a real estate agent or broker acts in an agency capacity for a buyer or seller client in a transaction, the agent or broker functions under certain legally mandated duties called fiduciary duties, acting in the best interests of the client. Such duties are regulated in some cases and sometimes not.